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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