Moody's clarification: Didn't issue new statement on India
Reports earlier said that post S&P's downgrades, Moody's affirmed India rating at BAA3 and said outlook was stable.<br /><br />
Moody's Investor Service has not issued any new statement on India's sovereign rating and outlook, the agency told Reuters on Wednesday.
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CNBC-TV18 and Bloomberg-UTV reported that Moody's affirmed India rating at BAA3 and said outlook was stable.
"I would like to clarify that Moody's have no rating affirmation nor announcement on India following S&P's ratings action on India today," said Eleanor Sheung, communications strategist for Asia ratings.
Standard & Poor's on Wednesday cut India's outlook to negative from stable, citing its large fiscal deficit and expectations of only modest progress on reforms given political constraints, battering stocks, bonds and the rupee.
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