(Updates with details)
October 19 (Reuters) – Standard & amp; Poor’s confirmed the BBB- rating of India, with a stable outlook, and said Monday it did not intend to change this year or next, based on its current assumptions.
BBB- is the lowest rating in the investment category.
This decision will probably not please the government of Prime Minister Narendra Modi, who India deserves a higher rating in view of fiscal discipline efforts and improving economic fundamentals.
Moody’s had also kept India at the lowest investment grade rating in April but had raised the prospect of “stable” to ” positive “, highlighting economic initiatives in New Delhi
S & amp;. P, like Moody’s also notes the measures to improve the business climate, labor flexibility and the sector of the energy, but the rating agency also reported bad points of a budgetary nature, both in revenue generation and in the control of expenditure on grants.
“Overall, we believe that public finances remain few Temp a brake for scoring, “she said.
Fitch also notes India’s BBB- with a stable outlook. (Suvashree Choudhury and Rafael Nam Wilfrid Exbrayat for the French service)
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