Moody's changes India's rating outlook from negative to stable

Citing lower downside risks and sharp economic recovery across sectors, ratings agency Moody's upgraded India's sovereign rating outlook to stable from negative.

Rating agency Moody's on Tuesday upgraded India's sovereign rating outlook to stable from negative, citing receding downside risks and faster-than-expected economic recovery across sectors.

"Moody's Investors Service has today changed the outlook on the Government of India's ratings to stable from negative and affirmed the country's foreign-currency and local-currency long-term issuer ratings and the local-currency senior unsecured rating at Baa3," Moody's said in a report on Tuesday.