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S&P reaffirms India's rating, retains outlook at 'stable'

06
Dec '19
Pic: Shutterstock
Pic: Shutterstock
Standards and Poor’s (S&P) recently reaffirmed the sovereign rating of India with a stable outlook, India’s economic affairs secretary Atanu Chakraborty said. S&P also expects the Indian economy to continue to outperform its peers and the growth to remain strong over the next two years. A 'BBB' rating signifies adequate capacity to meet financial commitments.

India’s economy continues to achieve impressive long term growth rates despite a recent deceleration and it is believed that the economic slowdown is cyclical rather than structural, n Indian finance ministry press release said citing the S&P’s summary publication on the country.

The rating action comes weeks after another global rating agency Moody's Investors Service lowered the country's rating outlook to negative from stable. A third one, Fitch Ratings, continues to hold the country's outlook at stable.

Fibre2Fashion News Desk (DS)


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