AMN
Global rating agency, Standard & Poor’s (S&P) today kept India’s sovereign rating unchanged, at ‘BBB minus’ with a stable outlook.
S&P said, the ratings reflect the country’s strong GDP growth, sound external profile, and improving monetary credibility. It said, the country’s strong democratic institutions, and its free press promote policy stability and compromise, and also underpin the ratings.
S&P added that these strengths are balanced against vulnerabilities stemming from the country’s low per capita income and relatively high general government debt stock.
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. Moody’s had said that India’s growth prospects have improved with continued economic and institutional reforms.
S&P rating affirms govt taking economy on right track: Sitharaman
AMN / New Delhi
Minister of Defence and former Commerce Minister Nirmala Sitharaman on Friday hailed Standard & Poor (S&P) latest rating for India and said this showed the Indian economy was strong and the government was taking it on the right track.
The leading global rating agency in its report released this evening retained India’s outlook as stable and kept the rating unchanged at BBB.
Talking to media persons, Ms Sitharaman said, “S&P Global has lauded the Narendra Modi government for passing a number of reforms that address long standing impediments to the country’s growth, whilst affirming India’s existing rating at BBB.”