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Moody's says food inflation negative for India's credit ratings

Source : REUTERS
Last Updated: Mon, Mar 18, 2013 03:30 hrs

MUMBAI, March 18 (Reuters) - India's sustained food inflation is a negative for the country's sovereign ratings as it exacerbates macroeconomic imbalances, Moody's Investors Service said in a report on Monday.

Moody's is the only one of the three major credit agencies to rate India with a "stable" outlook. Fitch Ratings and Standard and Poor's Ratings Services downgraded their outlook on India to "negative" from "stable" last year.

(Reporting by Rafael Nam; Editing by Jijo Jacob)

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