S&P ups India’s ratings outlook to stable

India flag resized 230px
By Shruti Chaturvedi
29 Sep 2014

Standard & Poor’s has upgraded India’s rating outlook to stable from negative, citing an improved political situation that opens the door to reforms for growth and better financial management. Its rating remains BBB-.

S&P highlighted India's relatively small external debt and a much improved external liquidity position as key strengths.

“Central bank reserves well exceed public sector external debt, reflecting the public sector's ability to finance practically all of its borrowing requirement domestically,” analysts Agost Benard and Takahira Ogawain wrote in ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial