For now, the Moody’s rating upgrade is big boost for India. The Modi government deserves credit for the reform work it has done, particularly the launch of the GST and reforms in archaic bankruptcy laws.
Earlier Moody's Investors Services, ICRA and CARE had downgraded the company's debt rating amid heightened concern over the telecom operator's loan repayment capability
The downgrade reflects Moody's expectation that China's financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows, Moody's said
Moody's Investors Service also said the issue will help determine benchmark pricing for potential issuers including PSUs like IRFC, REC and PFC