New Delhi, Nov. 8 -- Analysts on Friday dismissed ratings agency Moody's Investor Services' change in outlook for India's sovereign rating (Baa2) to negative from stable. They said that the country's economic downturn may not last long.

The rating agency changed its outlook for India's sovereign rating (Baa2) to negative from stable holding that the country's economic downturn could be structural. However, it kept the foreign-currency and local-currency long-term issuer ratings unchanged at Baa2.

"We do not set much score by Moody's downgrade of India's outlook to negative from stable on fiscal and growth risks," BoFA Merrill Lynch Global Research Report stated, adding that it sees the present slowdown as cyclical rather than structural...