S&P retained its BBB- rating for India while taking a favourable view on economic reforms introduced by the Prime Minister Narendra Modi. It said its stable outlook for India reflects its sound external account position. S&P last changed India's rating in January 2007, to BBB-, which is the lowest investment grade rating for bonds. However, in 2009, it changed the outlook to 'negative' but changed it to 'stable' again in the following year. The agency has now changed India's outlook to stable from positive.

Source: dna November 24, 2017 12:34 UTC