Moody's Ratings does not expect higher oil prices or a wider fiscal deficit to threaten India's investment-grade rating this year. The agency said India can absorb temporary budget pressure from energy costs as long as the government continues to bring down the deficit over time. India is rated Baa3 by Moody's, the lowest investment-grade level, with a stable outlook. Christian de Guzman, Singapore-based senior vice president at Moody's Ratings, said the rating is supported by the government's fiscal repair since the Covid-19 pandemic. “We don’t see India as being particularly affected because this shock is largely negative for most sovereigns,” Bloomberg quoted Christian de Guzman, Singapore-based senior vice president at Moody’s Ratings, as saying in an interview.