Research firm Moody’s Anaytics on Thursday denied that its report asking Prime Minister Narendra Modi to rein in his party leaders was the opinion of a junior analyst, a claim the government had made on Wednesday. A new statement by the company said the report was published by Moody’s Analytics as part of its economic outlook series. The report had closely observed political developments in the context of their economic impact, and did not have any other agenda, the company added.

Moody’s Analytics, of which ratings agency Moody’s Investor Services is a subsidiary, clarified that the opinion was of the Analytics team,and not of an individual member, and that all their reports are sent out to the press with instructions on how to cite them. On Wednesday, the Prime Minister’s Office had dismissed the report, published last week, claiming the media had buttressed the opinion of a junior analyst. The report claimed that the government might lose national and global credibility and face economic challenges if it did not stop its leaders from making contentious statements that could stoke communal issues.