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Monday, 10 March, 2025

Moody’s downgrades India’s rating first time in over 2 decades, says GDP to shrink by 4% in FY21

Two other global rating agencies – S&P and Fitch – too has projected Indian economy to shrink by 5 per cent in the current fiscal.

Moody’s downgrades India’s rating first time in over 2 decades, says GDP to shrink by 4% in FY21

The rating downgrade brings Moody's sovereign rating on India on par with S&P and Fitch, which rate India at 'BBB-', the lowest investment grade. (Photo: AFP)