S and P affirms India’s sovereign rating; outlook stable

S and P Global Ratings on Thursday affirmed India’s sovereign rating at ‘BBB-‘ with a stable outlook and said sound economic fundamentals will underpin growth over the next 2-3 years. The stable outlook on the long-term rating reflects S and P’s view that India’s strong economy and healthy revenue growth will support its weak fiscal settings. “S and P Global Ratings affirmed its ‘BBB-‘ long-term and ‘A-3’ short-term unsolicited foreign and local currency sovereign credit ratings on India.