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24 November 2017
 |
S&P (The Total Investment & Insurance Solutions)
Rating
agency Standard & Poor's (S&P) on Friday maintained India's sovereign
ratings at BBB- with stable outlook. The Total
Investment & Insurance Solutions
"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.
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.The
Total Investment & Insurance Solutions
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