S&P retains India's rating at 'BBB-' with stable outlook
The rating agency, however, pointed out that India's fiscal position remains precarious, with elevated fiscal deficits and net government indebtedness.
Fiscal deficits have exceeded the government's plan, S&P said, adding it expect limited consolidation over the next few years."S&P Global Ratings affirmed its 'BBB-' long-term and 'A-3' short-term unsolicited foreign and local currency sovereign credit ratings on India. The outlook on the long-term rating is stable," it said in a statement.
(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)
- If you have taken Covishield shots, watch out for these blood clot symptoms listed out by India’s Health Ministry
- Canara Bank's asset quality continues to dip but it's out of the red for now
- Tata Motors still isn't in the green, but it's making 20% more profit than before the COVID-19 pandemic hit
- CPI announces its list of cabinet nominees in the Pinarayi Vijayan-led Left government in Kerala
- Class 12 students waiting with bated breath for the final verdict on board exams