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Moody’s Upgrades India By A Notch On Reform Progress

Moody’s Investors Service on Friday raised the sovereign ratings of India for the first time since 2004, citing economic and institutional reforms. The sovereign rating was lifted to Baa2 from Baa3 and the rating outlook was changed to ‘stable’ from ‘positive’. The upgrade has placed India’s rating at par with those of Italy and the Philippines.
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