S&P reaffirms sovereign rating at 'BBB-' with stable outlook for India
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The global rating agency Standard & Poor's (S&P), on Wednesday, affirmed its 'BBB-' rating with a stable outlook. The development comes within days of Moody's downgrading India to one notch above junk status. The ratings agency affirmed its 'BBB-' long-term and 'A-3' short-term unsolicited foreign and local currency sovereign credit ratings on India. This reflects that the outlook on the long-term rating is stable.