New Delhi, Feb 04: Government on Monday welcomed Moody's upgradation of India's foreign currency debt rating saying it was an assertion of the fact that the economy was well managed and fundamentals were strong.
"This only confirms what we have been saying that the economic fundamentals were strong and that India was managing its economy well," an official spokesperson said.

International credit rating agency Moody's Investors Service upgraded India foreign currency debt rating to "Ba1" with a "stable" outlook from "Ba2" following a substantial improvement in the country's external liquidity position.

The international rating agency also upgraded the ceiling on foreign currency bank deposits to "Ba2" from "Ba3", unifying it with the government's "Ba2" domestic currency debt rating which was not on review and was affirmed with a negative outlook.
Moody's had indicated that India's rating was slated to go up in November last. Bureau Report