The Securities and Exchange Board of India (SEBI) cancelled the certificate of registration of the credit rating agency due to repeated lapses in the functioning.
Moody's said the second wave Covid infection hit India's economy in April, May and faster vaccination progress will be paramount in restricting economic losses to June quarter.
The credit rating agency said it didn't expect the impact of lockdown this year to be as severe as last year's & predicted real GDP growth to average around 6% over the longer term.
Swiss bank UBS Group expects S&P Global Ratings & Fitch Ratings to lower their outlook on the rating to negative from stable over the next couple of months.
The investors service said that there will be challenges in implementation of policies to mitigate risks of a sustained period of low growth and deteriorating fiscal position.
The agency has changed the outlook on India's ratings to 'negative' from 'stable', saying there was increasing risks that economic growth will remain materially lower than the past.
Armani built a multibillion-dollar global brand from something as simple as an unstructured jacket, and broke down the walls between formal and casual.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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