Market players said Moody's outlook underscored some of the marco concerns
Given the economic slump, most economists have lowered their FY20 growth estimates and expect the RBI to be more aggressive in cutting rates going ahead
Borrowing costs from overseas markets may not see substantial jump
Moody's decision to change the outlook to negative reflects increasing risks that economic growth will remain lower
The outlook was revised down for EXIM India, HDFC Bank, Hero FinCorp, HUDCO, IRFC, and SBI
Weak opening in domestic equities also weighed on the domestic currency, however, sustained foreign fund inflows and easing crude oil prices capped the losses, forex traders said.
Economists say that though Moody's cut is not really justified at this point, the move is a grim reminder of the state of the economy and the need to accept that all is not well
Quoting IMF's latest World Economic Outlook, the finance ministry said that the Indian economy is set to grow at 6.1 per cent in 2019, picking up to 7 per cent in 2020
The company's European operations accounted for more than 40 per cent of the company's consolidated revenue in the fiscal year ending March 2019
The decline in natural gas revenue and earnings will have a limited effect on ONGC's metrics for fiscal 2020
Banks in India risk seeing their capital severely depleted if there is a rise in corporate defaults, warned global rating agency Moody's
Government's move to cut corporate tax rate will boost net income of Indian firms
The losses to asset-backed securities (ABS) will also rise as the economy slows, said Moody's
It also affirmed the local and foreign currency deposit ratings of Canara Bank, OBC, Syndicate Bank and Union Bank at Baa3/P-3
Moody's said the negative outlook reflected uncertainty over the refinancing of Macrotech's upcoming debt maturities
Acquisition will erode PFCs capital adequacy
US credit rating agency Moody's on Friday upgraded India's sovereign rating to Baa2
The rating agency has also changed its outlook on India rating from positive to stable, a move that will help India attract more foreign fund flows and corporates tap debt at lower rates abroad
Moody's expect RBI to hold policy 'repo' rate steady to have a neutral stance in this growth
Moody's said growing leverage in China prompted the downgrade, and warned about slowing growth