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Moody's not to revise rating
LONDON,
MAY 21.
International rating agency Moody's has indicated that it is unlikely to revise India's rating, but prescribed strong measures to curb fiscal deficit for spurring growth during the Congress-led coalition government's regime.
Despite the bloodbath at the bourses before Manmohan Singh's name figured as the Prime Minister-designate, Moody's said the `Baa3' investment grade rating was still secure. It cited strong economic fundamentals as the reason for retaining the rating.
PTI
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