Moody's retains India's rating days after cutting its growth forecast

Moody's Investors Service has retained India's sovereign rating at 'Baa3' with a stable outlook. "The...outlook reflects...the risks from negative feedback between the economy and financial system are receding," it said. Global challenges are unlikely to derail India's economic recovery from the pandemic, it added. This comes after Moody's cut India's economic growth projection to 7.7% for 2022.