S&P Global Ratings on May 29 upgraded India's sovereign rating outlook to positive from stable while retaining the rating at 'BBB-' on robust growth and improved quality of government expenditure. "The positive outlook reflects our view that continued policy stability, deepening economic reforms, and high infrastructure investment will sustain long-term growth prospects," S&P said. The agency had last upgraded the rating outlook to stable from negative in 2010. All three major global rating agencies — S&P, Fitch and Moody’s — have accorded the lowest investment grade rating to India. However, Fitch and Moody's still have stable outlook on their ratings.

Source: The Hindu May 29, 2024 17:31 UTC