NEW DELHI: Global agency Standard & Poor's (S&P) on Friday maintained status quo on India's sovereign ratings but said that stable outlook reflects that growth will remain strong over the next two years. It kept India's outlook 'stable' in its latest ratings.Elaborating on the rating, S&P said India will maintain its sound external accounts position and fiscal deficits will remain broadly in line with expectations. "The ratings on India reflect the country's strong GDP growth, sound external profile, and improving monetary credibility. India's strong democratic institutions and its free press promote policy stability and compromise, and also underpin the ratings," the ratings agency said in a statement. It changed the outlook to 'negative' in 2009 and raised it to 'stable' in 2010.In 2012, S&P again lowered the outlook to 'negative', which it raised to 'stable' soon after the Modi government assumed office in 2014.

Source: Times of India November 24, 2017 12:16 UTC