November 17, 2017 / 1:21 AM / a year ago

BRIEF-‍Moody's upgrades India's government bond rating to Baa2 from Baa3; changes outlook to stable from positive​

Nov 16 (Reuters) -

* ‍Moody’s upgrades India’s government bond rating to Baa2 from Baa3; changes outlook to stable from positive​

* Moody’s says also upgraded India’s local currency senior unsecured rating to Baa2 from Baa3 and its short-term local currency rating to P-2 from P-3.‍​

* Moody’s - Raised india’s long-term foreign-currency bond ceiling to Baa1 from Baa2, and long-term foreign-currency bank deposit ceiling to Baa2 from Baa3

* Moody’s says stable outlook reflects view that, at the Baa2 level, the risks to India’s credit profile are broadly balanced

* Moody’s says believes recent reforms offer confidence that high level of public indebtedness which is India’s principal credit weakness will remain stable

* Moody’s - Ratings upgrade underpinned by expectation that progress on economic, institutional reforms will, over time, enhance India’s high growth potential

* Moody’s, on India, says challenges with GST implementation, lack of progress with land & labor reforms at national level highlight still material government effectiveness issues

* Moody’s says relatively fast pace of growth in incomes will continue to “bolster” Indian economy’s shock absorption capacity

* Moody’s says high public debt burden remains important constraint on India’s credit profile relative to peers Source text for Eikon:

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