Corporate Affairs Minister Veerappa Moily has strongly criticised the global rating firms for downgrading India's credit outlook. On the sidelines of a function organised by Assocham, Mr. Moily said, there was no economic tsunami in the country and they should redesign their assessment parameters. Mr. Moily added that agencies have been using political parameters too when they should stick to economic parameters only. Mr. Moily's comments came against the backdrop of Standard & Poor's as well as Fitch downgrading India's credit outlook to negative, citing corruption and lack of reforms.