Moody's could cut LIC

Moody's Investors Service said it placed the insurance financial strength rating of Life Insurance Corp. of India under review for possible downgrade.

Moody's said the announcement reflects its revised assessment of the linkage between the credit profiles of sovereigns and financial institutions globally.

Moody's said it believes that the credit quality of financial institutions, with high levels of domestic sovereign debt holdings and low geographically diversified revenue and earnings sources, is closely linked to the sovereign's credit strength.

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