S&P revises outlook for India to positive, affirms rating at BBB-
Rating firm S&P on Wednesday revised outlook for the Indian economy to 'positive' from 'stable' and has affirmed the overall rating at 'BBB-'.
'BBB-' is the lowest investment grade rating offered.
«India's robust economy growth positive impacts credit metrics,» S&P said. «The government's infrastructure spend will aid India's growth trajectory. We expect a continuity in India reforms regardless of poll outcome,» S&P said.
In May last year, S&P Global Ratings affirmed India's sovereign rating at 'BBB-' with a stable outlook on growth but flagged weak fiscal performance and low GDP per capita as risks.
All three global rating agencies, Fitch, S&P and Moody's, had the lowest investment grade rating on India with a stable outlook, until today.
The ratings are looked at by investors as a barometer of the country's creditworthiness and impact on borrowing costs.
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