India into the lowest investment grade category: BBB- rating by S&P
India to pitch for better credit rating
Posted: Tuesday, Dec 21, 2010 at 2149 hrs IST
The government as well as the markets players believe India deserves a better than the BBB- rating, with a stable outlook, it currently enjoys from S&P. This puts India into the lowest investment grade category, much below countries like Spain and Ireland which are going through a massive debt crisis.
These ratings are reviewed by the agencies from time-to-time and a fresh review is expected after the Union Budget in February, government sources said. A rating upgrade would attract larger inflows into the country and substantially reduce the cost of overseas debt by up to 200 basis points.
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