Sunday 8 December 2019
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S P reaffirms India s rating, retains outlook at stable

Global rating agency S P has reaffirmed sovereign rating of India with stable outlook, Economic Affairs Secretary Atanu Chakraborty said on Tuesday. The rating action comes weeks after another global agency Moody s Investors Service lowered the country s rating outlook to negative from stable . S P has reaffirmed sovereign rating of India at BBB- with stable outlook. They have stated that India s economy continues to achieve impressive long-term growth rates despite a recent deceleration, Chakraborty said in a tweet. BBB signifies adequate capacity on an entity to meet its financial commitments. However, adverse economic conditions or changing circumstances are more likely to weaken its capacity to meet financial commitments. The rating action comes at a time when the government is facing flak from opposition parties for not doing enough to check the slide in economic growth, which hit six year lower low of 4.5 per cent in the second quarter of the current ...

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