Home / Knowledge / News / Textiles / S&P rules out upgrade for India
S&P rules out upgrade for India
20
Oct '15
Ratings agency Standard and Poor's has ruled out any upgrade for India, but said improvement in policymaking have improved the country's prospect for economic and fiscal performance.

The agency retained India's rating at BBB- with stable outlook and expected the country's economic growth would average about 8 per cent during 2015-18 period. "We are affirming our BBB- long-term and A-3 short-term sovereign credit ratings on India," S&P said in a statement.

BBB is the lowest investment grade rating and stable outlook reduces risk of possible sovereign rating downgrade.

The stable outlook balances India's sound external position and inclusive policymaking traditions against the vulnerabilities stemming from its low per capita income and weak public finances, it said.

"The outlook indicates that we do not expect to change our rating on India this year or next based on our current set of forecasts," the statement said.

The agency also cautioned that downward pressure on the ratings could reemerge if, "contrary to our expectations, the new monetary council is not effective in achieving its targets, or if the external liquidity position of the nation deteriorates more than we currently expect".

However, it added upward pressure on the ratings could build if the governments reforms markedly improve its general government fiscal outturns and with them the level of net general government debt so that it falls below 60 per cent of GDP.

"Stable outlook indicates that we do not believe India's public finances will improve sufficiently this year or the next to warrant an upgrade, nor that its economic, external, or monetary profiles will slip enough to prompt a downgrade," the agency said. (SH)

 

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 22nd Feb 2017

Bangladesh exporters want duty-free access to US, Brazil

Garment and apparel exporters of Bangladesh are seeking duty-free...

Textiles | On 22nd Feb 2017

India to produce 341 lakh bales cotton in 2016-17: CAI

The Cotton Association of India (CAI) has maintained in its January...

Textiles | On 22nd Feb 2017

'India to be self-sufficient in silk production by 2020'

Indian could be self-sufficient in silk production by the year 2020...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search