Sunday, April 29, 2012

S&P cuts India’s outlook to negative

Global rating major Standard and Poor’s (S&P) has revised the outlook on India’s long term credit rating to ‘negative’ from ‘stable’. S&P cited slow fiscal progress and deteriorating economic indicators as the reason. India’s credit rating on its long term rupee debt has been kept unchanged at BBB-. This is the lowest investment grade rating issued by S&P.
Unsolicited sovereign credit ratings on India:
Long-term  BBB-
Short-term  A-3
Transfer and convertibility  BBB+

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