Upgrade to bring down credit costs for govt, cos

INDIA's sovereign rating upgrade to BBB from BBB- with stable outlook, which comes after 18 years gap, will make the country an attractive investment destination, apart from bringing cost of borrowings for both the government and corporates, according to analysts.

- BENN KOCHUVEEDAN @ Mumbai

As expected, the bond yields eased following the news. However, stock market didn't react to the development. The 10-year benchmark bond yield eased to 6.4052% at close from 6.4742% at open. As per Soumyakanti Ghosh, chief economic advisor at SBI, rating agencies didn't capture the country's fundamentals for almost a decade. The current rating action b