According to sources in the government, the global ratings agency Standard & Poor’s (S&P) will revise India’s sovereign ratings on Friday. Coming a week after Moody’s upgrade — a first in 14 years, expectations are that S&P too will raise the country’s rating.S&P had last changed India’s rating in January 2007 to BBB-, which is the lowest investment grade rating for bonds. The rating, however, remained unchanged at BBB-.In May this year, CEA Arvind Subramanian had criticised rating agencies for not upgrading India despite clear improvements in economic fundamentals. Without naming S&P, he had said rating agencies may have “poor standards”. The Moody’s ratings of Baa2 is an investment grade rating and marginally better than S&P’s current assessment.

Source: Economic Times November 24, 2017 02:26 UTC