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INDIA: S&P Revises India Outlook to Positive from Stable

INDIA
BulletEM BulletEmerging Market News

S&P Global Ratings revised its outlook on India to positive from stable. At the same time, it affirmed their 'BBB-' long-term and 'A-3' short-term unsolicited foreign and local currency sovereign credit ratings:

  • “India's robust economic expansion is having a constructive impact on its credit metrics. We expect sound economic fundamentals to underpin the growth momentum over the next two to three years.”
  • “Regardless of the election outcome, we expect broad continuity in economic reforms and fiscal policies.”
  • “Elevated fiscal deficits, a large debt stock and interest burden persist, but the government is prioritizing ongoing consolidation efforts.”
  • “We therefore revised our outlook on India to positive from stable and affirmed our 'BBB-/A-3' sovereign credit ratings.”

Press release here.

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S&P Global Ratings revised its outlook on India to positive from stable. At the same time, it affirmed their 'BBB-' long-term and 'A-3' short-term unsolicited foreign and local currency sovereign credit ratings:

  • “India's robust economic expansion is having a constructive impact on its credit metrics. We expect sound economic fundamentals to underpin the growth momentum over the next two to three years.”
  • “Regardless of the election outcome, we expect broad continuity in economic reforms and fiscal policies.”
  • “Elevated fiscal deficits, a large debt stock and interest burden persist, but the government is prioritizing ongoing consolidation efforts.”
  • “We therefore revised our outlook on India to positive from stable and affirmed our 'BBB-/A-3' sovereign credit ratings.”

Press release here.