Moody's downgrades India's ratings to Baa3, maintains negative outlook
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Moody's Investors Service downgraded India`s ratings to Baa3 from Baa2, saying that the country's policymaking institutions will be challenged to mitigate the risks of a prolonged period of slower growth, rising debt and stress in the financial sector. Measures to improve India's fiscal strength, which were at the heart of the govt's policy framework a few years ago, have underwhelmed," the ratings agency said in a statement.