Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

S&P Stagnates India's Rating as 'Stable', Unmoved by Moody's Outlook

While S&P retained the rating, it appreciated the Narendra Modi government's fiscal consolidation drive and said that the reforms undertaken are beneficial for the economy.

Rounak Kumar Gunjan | News18.com@Rounak_T

Updated:November 24, 2017, 6:35 PM IST
S&P Stagnates India's Rating as 'Stable', Unmoved by Moody's Outlook
Vehicles drive past the commercial towers in Gurugram on the outskirts of New Delhi, India, November 23, 2017. (REUTERS/Adnan Abidi)

Mumbai: SStandard & Poor’s on Friday maintained India’s sovereign rating at ‘BBB-‘, just one grade above junk status. S&P has rated India as stable.

There were speculations of a push by S&P, especially after Moody's upgraded India's ranking by one spot.

While S&P retained the rating, it appreciated the Narendra Modi government's fiscal consolidation drive and said that the reforms undertaken are beneficial for the economy.

Sizable fiscal deficit, low per capita income and high government debt detract from sovereign credit profile, S&P said, adding that fiscal gap is in line with expectations.

After Moody’s rating upgrade for the Indian economy, experts and stakeholders were looking forward to the next boost.

An upgrade for India’s ratings could have been highly positive for the bond market and would have also helped reduce interest costs for both the government as well as companies raising funds from abroad.

A sovereign rating indicates a country’s risk profile and a rating upgrade enhances the country’s position as an investment destination for foreign investors.

Back in October, S&P had stated that India needs to improve on its fiscal position if it hopes for a rating upgrade.

The Moody’s ratings, on November 17, had come after 14 years. India’s sovereign rating was last upgraded by Moody’s in January 2004, to Baa3 from Ba1.

In January 2007, S&P had changed India’s rating to BBB-, which is the lowest investment grade rating for bonds. The outlook that it assigned back then was “stable” which it later changed to negative in 2009 and again raised it to stable in 2010.

In 2012, the outlook was lowered to negative, which again changed soon after the Modi government assumed office in May 2014. However, the rating remained unchanged at BBB-.

The ranking also comes within weeks of India's 30-place improvement in World Bank’s Ease of Doing Business rankings, in which India jumped to the 100th rank this time.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

| Edited by: Mirza Arif Beg
Read full article
Next Story
Next Story

Also Watch

Most Active
Company Price Change %Gain
Yes Bank 59.25 5.24
Indiabulls Hsg 467.85 3.84
Reliance 1,275.85 2.33
HDFC Bank 2,162.70 -0.52
ICICI Bank 395.40 -0.93
Company Price Change %Gain
Yes Bank 59.25 5.24
ICICI Bank 395.75 -0.85
Indiabulls Hsg 467.90 4.00
Bajaj Finance 3,175.35 1.85
Reliance 1,275.95 2.36
Top Gainers
Company Price Change %Gain
Zee Entertain 351.15 6.75
Vedanta 137.40 6.47
UPL 547.25 5.64
Yes Bank 59.25 5.24
BPCL 329.35 5.22
Company Price Change %Gain
Vedanta 137.50 6.55
Yes Bank 59.25 5.24
ONGC 122.30 4.66
M&M 533.10 4.09
Coal India 188.05 4.07
Top Losers
Company Price Change %Gain
IndusInd Bank 1,310.50 -1.88
ITC 236.10 -1.65
ICICI Bank 395.40 -0.93
Eicher Motors 15,383.45 -0.90
HUL 1,860.00 -0.65
Company Price Change %Gain
IndusInd Bank 1,310.35 -1.90
ITC 236.00 -1.71
ICICI Bank 395.75 -0.85
Power Grid Corp 201.40 -0.69
HUL 1,859.35 -0.69

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results