The Baa3 rating considers reduced civil society, political dissent, and increased domestic political risk.
BAA3 is a relatively lower investment-grade rating. It signifies a moderate credit risk for the issuer of the rated financial instrument or debt.
Economic growth, stability, and debt levels affect global ratings.
Moody’s ratings consider economic growth rate, inflation, general government debt & short-term external debt as a percentage of the GDP.
A higher rating suggests improved economy, while a lower rating may mean higher borrowing costs and slower growth.