Agency says India’s credit profile more exposed to drought than those of other ‘Baa’ sovereigns.
India may be able to avoid a drought this year, but the country remains vulnerable to future droughts or fluctuations in rainfall that could impact its sovereign credit profile, Moody’s Investors Service said in a report. However, the government’s efforts could mitigate the risks, the United States-based credit rating and research agency said.
India is running a rainfall deficit of over 9% after nearly two-thirds of the monsoon season is over. “Although India may avoid drought this year . Details