Moody's retains India rating and outlook, days after cutting GDP forecast

Says credit profile reflects strengths like large and diversified economy, but warns that country is highly exposed to climate change events

Days after Moody’s cut its gross domestic product (GDP) forecast for financial year 2022-23 (FY23) after the official GDP print for the June quarter came in lower than expectations, the global ratings agency said it will maintain its long-term sovereign debt credit rating and outlook on Asia’s third largest economy.

“The credit profile of India reflects key strengths, including its large and diversified economy with high growth potential, a relatively strong external position, and a stable domestic financing base for government debt,” Moody’s said on Tuesday.

“We do not expect rising challenges to the global economy, including the impact of