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Business EconomyPosted at: Nov 24 2017 6:30PM


S&P maintains India ratings at 'BBB-', expects economy to grow robustly over 2018-20

New Delhi, Nov 24 (UNI) The rating agency Standard & Poor's on Friday maintained its sovereign rating on India constant at BBB-, while keeping its outlook for India stable and expected that the Indian economy will grow robustly over 2018-2020.
In its report, released on Friday evening, said, “Sizable fiscal deficit and high government debt detracts from soverign credit profile. The global rating agency added that fiscal gap is in line with expectations.
S&P's said it has a favourable view of the reforms the government has undertaken. It lauded India's fiscal consolidation drive.
S&P said, “Despite two quarters of weaker-than-expected growth, India's economy is forecast to grow robustly in 2018-2020 and foreign exchange reserves will continue to rise. Nevertheless, sizable fiscal deficits, a high net general government debt burden, and low per capita income detract from the sovereign's credit profile.
It added, “We are affirming our 'BBB-' long-term and 'A-3' short-term sovereign credit ratings on India. The stable outlook reflects our view that, over the next two years, growth will remain strong, India will maintain its sound external accounts position, and fiscal deficits will remain broadly in line with our forecasts."
S&P Global Ratings affirmed its unsolicited long- and short-term foreign and local currency sovereign credit ratings on the Republic of India at 'BBB-/A-3'. The outlook is stable.
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Tags: #S&P maintains India ratings at 'BBB-'# expects economy to grow robustly over 2018-20
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