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

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.