Fri. Mar 29th, 2024
credit rating

Ending all the ongoing economic discussion, Standard & Poor’s has released its latest ratings and the Indian rating has remained unchanged. Since Moody’s announced its improved rating for India recently, there were speculations that S&P also could improve on the ratings, which was kept unchanged since 2007.

The rating agency, however, praised the Indian government for its initiatives to improve the economy including fiscal consolidation drive. Though it considered and acknowledged the measures being taken by the government, the outlook for Indian economy was retained to be stable. Though the rating has remained the same since January 2007, the agency had downgraded the outlook to negative in 2009 and changed it back to stable in 2010. It was again downgraded to negative in 2012 before upgrading it back to stable in 2014. However, since then, it has been kept unchanged.

Before this, Moody’s had changed India’s rating to Baa2 from Baa3 after over 14 years and stated that the Indian economy was growing at a much faster and stable rate and that the government was taking the right initiatives to boost the economic developments in the country.

By Prithviraj Singh Chauhan

Part time journalist, full-time observer. Editor-in-Chief at The Indian Wire. I cover updates related to business and startups.