Moody's says factors underpinning Indian rupee fall part of Baa3 rating
MUMBAI Aug 20 (Reuters) - Moody's India sovereign rating of Baa3 incorporates macro-economic challenges of weaker growth, a fall in the rupee and the twin deficits, credit ratings analyst Atsi Sheth said on Tuesday.
"So while (the) rupee depreciation may be a new development, the factors that underpin it are not, and have been incorporated into India's Baa3 rating," Sheth said in an e-mailed response to Reuters.
For India to meet the fiscal deficit target will be "very challenging" this year, Sheth added, citing lower-than- anticipated growth and a steep fall in the rupee.
The rupee was trading at a record low of 63.69 to the dollar on Tuesday, as it continued to be most vulnerable to the exodus of foreign capital. (Reporting by Neha Dasgupta; Editing by Gopakumar Warrier)
- Pope attacks mega-salaries and wealth gap in peace message
- Atheists face death in 13 countries, global discrimination: study
- South Africa admits mistake over 'schizophrenic' Mandela signer |
- Thai military heads agree to meet protest leader at weekend |
- Missouri executes man for killing good Samaritan motorist in 1994