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Moody's downgrades India's sovereign rating to 'Baa3', outlook negative

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Moody’s Investors Service on Monday downgraded India’s rating one notch to the lowest investment grade (Baa3) with negative outlook holding that Asia’s third largest economy faces a prolonged period of slower growth relative to the country's potential amid rising debt and persistent stress in parts of the financial system. “The decision to downgrade India’s ratings reflect Moody’s view that the country’s policymaking institutions will be challenged in enacting and implementing policies which which effectively mitigate the risks of a sustained period of relatively low growth, significant further deterioration in the general government fiscal position and stress in the financial sector," it said.

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Southern Ontario highway partially closed due to convoy demonstrations: police
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