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S&P affirms India's sovereign rating at 'BBB-', outlook stable

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NEW DELHI : Standard & Poor’s (S&P) Global Ratings on Wednesday affirmed India’s lowest investment grade credit rating with stable outlook, saying the country’s economy and fiscal position will stabilize and beginning to recover from 2021 onwards.The rating action will provide huge relief to the government as last week Moody’s Investor downgraded India’s sovereign rating one notch to the lowest investment grade with negative outlook."While risks to India's long-term growth rate are rising, ongoing economic reforms, if executed well, should keep the country's growth rate ahead of peers.

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