Explorer

S&P maintains India's sovereign ratings at BBB- with stable outlook

S&P Global Rating kept India's sovereign rating unchanged at 'BBB-' with stable outlook saying vulnerabilities stemming from low per capita.

NEW DELHI: Rating agency Standard & Poor's (S&P) on Friday maintained India's sovereign ratings at BBB- with stable outlook. "S&P Global Ratings affirmed its unsolicited long and short-term foreign and local currency sovereign credit ratings on the Republic of India at 'BBB-/A-3'. The outlook is stable," the agency said in a statement. It said the stable outlook reflects its view that, over the next two years, growth will remain strong, India will maintain its sound external accounts position, and "fiscal deficits will remain broadly in line with our forecasts." "Upward pressure on the ratings could build if the government's reforms markedly improve its net general government fiscal out-turns and so reduce the level of net general government debt. Upward pressure could also build if India's external accounts strengthen significantly," S&P said in the statement. "Downward pressure on the ratings could emerge if GDP growth disappoints, causing us to reassess our view of trend growth; if net general government deficits rose significantly; or if the political will to maintain India's reform agenda significantly lost momentum," it added. The rating stance taken by S&P comes days after Moody's Investors Service raised India's sovereign rating for the first time in over 13 years, saying that growth prospects have improved with continued economic and institutional reforms. Boosting investor sentiments, US credit rating agency Moody's on November 17 upgraded India's sovereign rating to Baa2 from its lowest investment grade of Baa3 after 13 years, a development Finance Minister Arun Jaitley said was "an extremely encouraging" global recognition of the structural reforms of last three years. India Inc too lauded it.
View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

Congress, Allies Want Article 370 Restored, Pursuing ‘Pakistan Agenda’: PM Modi On J-K Assembly Ruckus
Congress, Allies Want Article 370 Restored, Pursuing ‘Pakistan Agenda’: PM Modi On J-K Assembly Ruckus
Salman Khan Extortionist Is A Lawrence Bishnoi Fan, Demanded Rs 5 Crore Because...
Salman Khan Extortionist Is A Lawrence Bishnoi Fan, Demanded Rs 5 Crore Because...
Himachal: Goof-Up Over Samosas Meant For CM Sukhu Snowballs Into Controversy; BJP Slams Cong Govt
Himachal: Goof-Up Over Samosas Meant For CM Sukhu Snowballs Into Controversy; BJP Slams Cong Govt
‘Forgive Me If I Ever...’: CJI DY Chandrachud Delivers Final Speech, Bows Out Of Supreme Court Bench
‘Forgive Me If I Ever...’: CJI DY Chandrachud Delivers Final Speech, Bows Out Of Supreme Court Bench
Advertisement
ABP Premium

Videos

Marshals Remove BJP Legislators from J&K Assembly Amidst Growing TensionsAnchor Silences NC Spokesperson Over Article 370 and 35A Debate | ABP NewsJ&K Assembly: Dramatic Images Show BJP and Ruling Party MLAs in Heated ScuffleClash in J&K Assembly: Cameras Capture Khursheed Ahmad Sheikh’s Scuffle with BJP MLAs

Photo Gallery

Embed widget