New Delhi, Nov 24 (PTI) S&P Global Rating today kept Indias sovereign rating unchanged at BBB- with stable outlook saying vulnerabilities stemming from low per capita income and high government debt balances strong GDP growth. The rating stance taken by S&P comes days after Moodys Investors Service raised Indias sovereign rating for the first time in over 13 years, saying that growth prospects have improved with continued economic and institutional reforms. "The ratings on India reflect the countrys strong GDP growth, sound external profile, and improving monetary credibility. Indias strong democratic institutions and its free press promote policy stability and compromise, and also underpin the ratings. "These strengths are balanced against vulnerabilities stemming from the countrys low per capita income and relatively high general government debt stock," it said in a statement.

Source: India Today November 24, 2017 12:33 UTC