INSUBCONTINENT EXCLUSIVE:
S-P also expects the Indian economy to continue to out-perform its peersNew Delhi: Global rating agency S-P has reaffirmed sovereign rating
of India with stable outlook, Economic Affairs Secretary Atanu Chakraborty said on Tuesday.The rating action comes weeks after another
global agency Moody's Investors Service lowered the country's rating outlook to "negative" from "stable"."S-P has reaffirmed sovereign
rating of India at BBB- with stable outlook
They have stated that India's economy continues to achieve impressive long-term growth rates despite a recent deceleration," Chakraborty
said in a tweet.'BBB' signifies adequate capacity on an entity to meet its financial commitments
However, adverse economic conditions or changing circumstances are more likely to weaken its capacity to meet financial commitments.The
rating action comes at a time when the government is facing flak from opposition parties for not doing enough to check the slide in economic
growth, which hit six year lower low of 4.5 per cent in the second quarter of the current fiscal.Standards and Poor's (S-P) also expects the
Indian economy to continue to out-perform its peers and growth to remain strong over the next two years.In November, Moody's Investors
Service had cut India's credit rating outlook to negative - the first step towards a downgrade, saying the government has been partly
ineffective in addressing economic weakness, leading to rising risks that growth will remain lower.Another international agency, Fitch
Ratings continues to hold the country's outlook at 'stable'.The government has been taking slew of measures, including sharp reduction
corporate tax to boost economy.Besides, the Reserve Bank has been extending support to the government's effort by repeatedly cutting key
