S&P Global Upgrades India's Sovereign Rating, Maintains Economic Outlook as 'Stable'

S&P Global has upgraded India's sovereign rating to BBB from its earlier rating of BBB-, while maintaining the economic outlook as "stable."

- STATESMAN NEWS SERVICE

S&P Global noted that the stable outlook reflects the view that continued policy stability and high infrastructure investment will support India's long-term growth prospects.

"That, along with cautious fiscal and monetary policy that moderates the government's elevated debt and interest burden will underpin the rating over the next 24 months."

Further, it has also revised India's short-term rating to A-2 from A-3, and improved the transfer and convertibility assessment to A- from BBB+.