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Strategies & Market Trends : India Coffee House

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To: JPR who wrote (2518)	8/23/1998 10:21:00 PM
From: Mohan Marette	Read Replies (2) of 12475

World markets igonore 'Moody-Blues' theory on India. JPR: Interesting news about Moody's downgrade and its effects on India. Exceprts. "In a world in which the market is seen as the final arbiter, the divergence between Moody's ratings and the market behaviour reflects poorly on the 98-year-old institution. As a matter of fact, ever since Moody's downgraded India by two notches in the wake of the Pokhran nuclear tests, there have been many who have questioned that quality of its decision. And now the market is questioning it too. The debate has since spread to a number of Asian economies which, too, have raised doubts about the impartiality, competence and credibility of the rating agency. Owned by Dun & Bradstreet since 1962, Moody's maintains independent ratings on nearly $14 trillion of debt securities. economictimes.com

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