MUMBAI: Moody's Investor Service has not issued any new statement on India's sovereign rating and outlook, the agency told Reuters on Wednesday.

CNBC-TV18 and Bloomberg-UTV reported that Moody's affirmed India rating at BAA3 and said outlook was stable.

"I would like to clarify that Moody's have not rating affirmation nor announcement on India following S&P's ratings action on India today," said Eleanor Sheung, communications strategist for Asia ratings.

Standard & Poor's on Wednesday cut India's outlook to negative from stable, citing its large fiscal deficit and expectations of only modest progress on reforms given political constraints, battering stocks, bonds and the rupee.