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Moody's congratulatory pat for Modi

posted 12 Sept 2018, 01:10 by harp guy
Various Indian governments have been pushing the global credit rating agencies (CRA’s) to reexamine the country’s credit rating given its clean 70-year credit history and recent economic growth. Last week Moody’s finally relented and raised India’s sovereign credit rating by one notch from Baa3 to Baa2.

What does this mean and what is the significance of this “upgrade”?