Moody’s acts on four Indian issuers

Moody’s Investors Service said it downgraded the long-term local- and foreign-currency issuer ratings of Indian Railway Finance Corp. Ltd. and Housing and Urban Development Corp. Ltd. to Baa3 from Baa2, bringing hem in line with India’s Baa3 sovereign rating. The outlooks remain negative.

Moody’s affirmed the long-term local- and foreign-currency issuer ratings of Power Finance Corp. Ltd. and REC Ltd. at Baa3. The agency changed the outlooks on their ratings to negative from stable also in line with the sovereign’s outlook.

“The rating actions on Indian government-related issuers follows Moody’s recent downgrade of the Indian government’s ratings to Baa3 from Baa2 with a negative outlook,” Moody’s said in a press release.

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