Moody's Upgrades Rating Of Indian Govt Bonds

Global agency Moody’s today upgraded the credit rating of Indian government’s bonds from speculative to investment grade, a move that could encourage FIIs to increase their exposure in gilts and help companies raise funds from abroad at competitive rates.

“Moody’s has upgraded the rating on long-term government bonds denominated in domestic currency from Ba1 to Baa3 (from speculative to investment grade),” said a Finance Ministry release.

From: http://ping.fm/hSWOy