Fresh Covid Surge Poses Credit Negative Threat For India: Report

New restrictions imposed to contain the surge pose a credit-negative threat and risks weakening the country's economic recovery,

A second wave of coronavirus infections in India and new restrictions imposed to contain the surge pose a credit-negative threat and risks weakening the country's economic recovery, Moody's Investors Service said. "The (second wave) presents a risk to our growth forecast as the virus management measures will curb economic activity and could dampen market and consumer sentiment," the agency's analysts said in a note dated Monday. India reported 161,736 new coronavirus infections on Tuesday, hitting the world's highest daily tally once again, after overtaking Brazil as the second-most affected country. Officials in the worst-hit state of Maharashtra, home to the financial capital of Mumbai, said they were considering a broader lockdown this week after large closures at the weekend.