![Moody’s India downgrade is not unexpected: BofA Securities](https://images.assettype.com/fortuneindia%2F2020-04%2Fdb780e87-218c-4ed3-8a1a-9d267d4d2e2e%2FCFS__2__OLD_copy.jpg?rect=0,62,2520,1260&w=300&q=95)
Moody’s India downgrade is not unexpected: BofA Securities
While the rating agency downgraded India’s sovereign rating, BofA Securities’ economists see the present downturn as cyclical rather than structural; say fiscal stimulus is critical for recovery.