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Moody’s Hurts India

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

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The belief that the most rapidly growing developing nations can sustain rapid economic improvement and GDP expansion received another blow. China’s GDP has already begun to slow, the most visible indication of the trend. S&P downgraded its outlook for India.

The Moody’s note:

We are revising the outlook on the long-term ratings on India to negative  to reflect at least a one-in-three likelihood of a downgrade if the  external position continues to deteriorate, growth prospects diminish, or progress on fiscal reforms remains slow.

The caution shares something else common to concerns with China. Fiscal reforms in the People’s Republic have been slow, although there are signs it may revise how its sets the value of its currency and finances its banks.  A full downgrade of India would be a sign that much of the developed world has moved toward the slowdown which already exists elsewhere.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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