May 22, 2020 / 4:34 AM / 2 months ago

BRIEF-Moody's Says India'S Lockdown Compounds Economic Challenges As Credit Risks Rise In Many Sectors

May 22 (Reuters) -

* MOODY’S - INDIA’S LOCKDOWN COMPOUNDS ECONOMIC CHALLENGES AS CREDIT RISKS RISE IN MANY SECTORS

* MOODY’S NOW EXPECTS INDIA’S REAL GDP TO CONTRACT IN THE FISCAL YEAR ENDING MARCH 2021 COMPARED WITH AN EARLIER PROJECTION OF ZERO GROWTH

* MOODY’S ON INDIA SAYS FISCAL DEFICIT WILL WIDEN, INCREASING THE COUNTRY’S FUTURE DEBT BURDEN

* MOODY'S SAYS INDIAN ECONOMY IS ALSO EXPECTED TO RECOVER SOMEWHAT MORE STRONGLY IN FISCAL 2021-22 RELATIVE TO AN EARLIER FORECAST OF 6.6% GROWTH Source text: bit.ly/2WSVtUM

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