Global rating agency Moody's Investor Service expressed the no-worry signal to India Inc inspite of economical turmoil. The credit rating agency expressed positive revival in the nation of billions. The agency in a statement said that credit challenges like weak fiscal performance and an uncertain investment policy environment have already incorporated into the current Baa3 rating.

The agency also added that these challenges are temporary and the country would bounce back soon. The agency also reminded that India had faced similar crisis in the past also but bounced back successfully. However, the global and domestic factors, including potential shocks in agriculture, could keep India's growth below trend for the next few quarters, Moody's said.

It may be noted just last week the credit rating agency, downgraded 15 global banks. And then the  Moody's website stated: `We have downgraded the ratings of 15 banks and securities firms with global capital markets operations. The rating review, initiated on 15 February, has now been concluded. All the banks affected by these rating actions have significant exposure to the volatility and risks inherent in the capital markets business, which have led many to fail or avoid it only through the receipt of support from a third party. As part of our review of European banks, also announced on 15 February, we have to date also taken actions on banks in Germany, Austria, Spain, Italy, Portugal, Sweden, Norway, Denmark, Finland, France and the Benelux countries.' (With inputs from internet- AW AarKay)