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How India lobbied Moody’s for ratings upgrade, but failed

India criticised Moody's ratings methods and pushed aggressively for an upgrade, documents reviewed by Reuters show, but the US-based agency declined to budge citing concerns over the country's debt levels and fragile banks. Winning a better credit rating on India's sovereign debt would have been a much-needed endorsement of Prime Minister Narendra Modi's economic stewardship, helping to attract foreign investment and accelerate growth. Since storming to power in 2014, Modi has unveiled measures to boost investment,…

Italy’s Renzi resigns, hints at early election

ROME: Matteo Renzi bowed out as Italian prime minister with a combination of jokes, regrets and a strong hint that he wants to lead his party into an early election battle. Political consultations on forming a caretaker government were set to begin Thursday at 6 pm, after Renzi formally submitted his resignation to President Sergio Mattarella following a crushing referendum defeat. Before handing back the keys to his Palazzo Chigi residence, the 41-year-old chaired a meeting of the executive of his Democratic Party…

Moody's probed by US

NEW YORK: US authorities are investigating the credit rating agency Moody's over its glowing assessments of mortgage deals in the runup to the 2008 financial crisis, The Wall Street Journal reported Sunday.