S&P rating BBB-minus for India; Lowest investment grade

     Written by : SMTV24x7 | Fri, Nov 24, 2017, 07:54 PM

S&P rating BBB-minus for India; Lowest investment grade

The rating for India was kept unchanged by Standard & Poor's today at 'BBB-minus'. The rating is at lowest investment grade but S&P said that it kept that rating to balance against vulnerabilities that could arise due to high general government debt stock and low per capta income.

The government called it unfair as Mood's investors service raised India's sovereign rating for the first time in 13 years, but S&P didn't consider it.

S&P said "balanced against vulnerabilities stemming from the country’s low per capita income and relatively high general government debt stock."

Sanjeev Sanyal, principal economic adviser, termed the rating unchange as "a bit unfair" saying the low per capita income is "neither a reflection on our ability or our willingness to pay debt."