Mint Quick Edit | Will S&P upgrade India’s awkward credit rating?
6 months, 3 weeks ago

Mint Quick Edit | Will S&P upgrade India’s awkward credit rating?

Live Mint  

S&P Global has raised the outlook on India’s credit rating to “positive" from “stable" while affirming its rating of BBB minus. It cited robust economic growth and improved expenditure quality for the move, which puts India’s sovereign rating in the reckoning for an upgrade. While India’s macro numbers broadly seem to be moving in the right direction, government officials have long complained of a raw deal from global rating agencies. If India’s economy continues to do well and such bonds attract many more buyers, a credit rating that barely considers them investment grade will look awkward.

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History of this topic

S&P Global Slashes GDP Growth Forecast For India For FY26 To 6.7 Per Cent
4 weeks ago

S&P Global Slashes GDP Growth Forecast For India For FY26 To 6.7 Per Cent

ABP News  

S&P Global Ratings on Monday cut down the growth estimates for Indian economy in the next two fiscal years. Issuing an update to its economic growth projections for Asia-Pacific economies post US elections, the ratings agency estimated the Indian economy to clock a GDP growth rate of 6.7 per cent in the 2025-26 fiscal year and 6.8 per cent in …

S&P Global cuts India’s GDP growth estimates for FY26 and FY27, forecasts 6.8% growth for this fiscal
Trending News
4 weeks ago

S&P Global cuts India’s GDP growth estimates for FY26 and FY27, forecasts 6.8% growth for this fiscal

Live Mint  

New Delhi, Nov 25 S&P Global Ratings on Monday revised down its estimate for India's economic growth in the next two financial years as high interest rate and lower fiscal impulse temper urban demand. In an update to its economic forecast for Asia-Pacific economies after US election results, the rating agency projected a 6.7 per cent GDP growth rate in …

India in economic sweet spot amid global headwinds: Moody’s
1 month, 1 week ago

India in economic sweet spot amid global headwinds: Moody’s

Live Mint  

New Delhi: India’s economy is in a sweet spot, growing at 7.2% in 2024 with inflation moderating despite a temporary spurt, Moody’s Investors Service India Pvt. According to Moody’s global macro outlook for 2025-26, India’s economy is growing robustly and has the potential to sustain high growth rates as strong private sector financial health reinforces a virtuous economic cycle. Despite …

S&P Foresees Steady 6.5-7 Percent Growth for India Until 2027
1 month, 1 week ago

S&P Foresees Steady 6.5-7 Percent Growth for India Until 2027

Deccan Chronicle  

New Delhi: S&P Global Ratings on Thursday projected the Indian economy to grow between 6.5-7 per cent annually in the three fiscal years till March 2027 as infrastructure spending and private consumption drive growth momentum. “Good economic growth prospects will continue to support banks' asset quality, while healthy corporate balance sheets, tighter underwriting standards and improved risk management practices will …

India to be third largest economy by 2030-31; grow 6.7% per annum: S&P Global
3 months ago

India to be third largest economy by 2030-31; grow 6.7% per annum: S&P Global

Hindustan Times  

India is on track to become the third-largest economy by fiscal 2030-31, driven by a robust projected annual growth rate of 6.7, the credit rating agency S&P Global said in its report named India Forward Emerging Perspectives. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} It further added in its suggestion that a strong port infrastructure is required to match rising exports and bulk …

India’s ‘sweet spot’ lures bond funds amid global market turmoil
4 months ago

India’s ‘sweet spot’ lures bond funds amid global market turmoil

Hindustan Times  

Global funds have poured money into India’s debt market for 14 weeks in a second streak of buying this year, evidence of the country’s appeal amid the ructions of worldwide financial markets. “India is in a sweet spot from a macro perspective and also from a monetary policy perspective,” said Jenny Zeng, chief investment officer for Asia Pacific fixed income …

Economic Survey 2023-24: Displaying stellar show banking, financial sectors must brace for likely vulnerabilities
5 months ago

Economic Survey 2023-24: Displaying stellar show banking, financial sectors must brace for likely vulnerabilities

The Hindu  

With India’s banking and financial sectors displaying a stellar performance in FY24 and as India’s financial sector undergoes critical transformation, it must brace for likely vulnerabilities originating globally or locally, the Economic Survey 2023-24 has cautioned. Economic Survey 2023-24 LIVE updates In FY24 bank credit witnessed double digit and broad-based growth and asset quality improved dramatically with gross and net …

India's rating upgrade possible in next 24 months if fiscal deficit falls to 4%: S&P
5 months, 2 weeks ago

India's rating upgrade possible in next 24 months if fiscal deficit falls to 4%: S&P

The Hindu  

A sovereign rating upgrade for India in the next 24 months is possible if the central government is able to prudently manage its finances and bring down fiscal deficit to 4% of GDP, an S&P Global Ratings official said on July 3. S&P Global Ratings Director, Sovereign Ratings, YeeFarn Phua, said the trigger for upgrade would be general government deficit …

Bonds, Indian bonds: Are they outshining those in other emerging markets?
5 months, 3 weeks ago

Bonds, Indian bonds: Are they outshining those in other emerging markets?

Firstpost  

Compared to most of these countries, India’s bond market is an outperformer, whether it be in terms of size, stability, potential for investment, or yields. File image India’s inclusion in the JP Morgan Government Bond Index-Emerging Markets, effective Friday is being hailed as a major milestone. Bond market size With indexed bonds amounting to over $400 billion in outstanding value, …

Coalition crutches could cramp reform chase, say Moody’s, Fitch
6 months, 2 weeks ago

Coalition crutches could cramp reform chase, say Moody’s, Fitch

The Hindu  

With the BJP losing an outright majority in the Lok Sabha, global rating agencies on Wednesday said navigating far-reaching reforms may prove more difficult during a coalition-dependent third term likely for Prime Minister Narendra Modi. While “broad policy continuity” is expected in areas such as the thrust on public capex to spur the economy and gradual fiscal consolidation, a BJP-led …

PM Modi's smaller mandate to slow India's fiscal tightening, Moody's says
6 months, 2 weeks ago

PM Modi's smaller mandate to slow India's fiscal tightening, Moody's says

Hindustan Times  

The narrower margin of victory for Prime Minister Narendra Modi's alliance in elections will forestall reforms that could have potentially facilitated aggressive fiscal consolidation, an analyst at Moody's Ratings said on Wednesday. S&P Global Ratings raised India's sovereign rating outlook to 'positive' from 'stable' last week saying the country's robust economic expansion was having a constructive impact on its credit …

S&P upgrades outlook on India's sovereign rating to 'positive' based on country's robust economic expansion
6 months, 3 weeks ago

S&P upgrades outlook on India's sovereign rating to 'positive' based on country's robust economic expansion

India TV News  

S&P Global Ratings has upgraded India’s sovereign rating outlook to 'positive' from 'stable', while maintaining the rating at 'BBB-'. The rating agency's positive outlook on India is predicated on its robust economic growth, pronounced improvement in the quality of government spending, and political commitment to fiscal consolidation, it said. India's GDP growth to aid debt reduction S&P expects India's economy …

S&P Upgrades India’s Outlook to Positive After 10 Years
6 months, 3 weeks ago

S&P Upgrades India’s Outlook to Positive After 10 Years

Deccan Chronicle  

New Delhi: After a gap of 10 years, leading rating agency S&P Global Ratings on Wednesday said that it upgraded India’s sovereign rating outlook to positive from stable on robust growth, improved quality of public spending in the last 5 years and expectation of broad continuity in reforms and fiscal policies as well. “India outlook revised to positive on robust …

S&P ups India's outlook to positive, raises hope for rating upgrade in 2 years
6 months, 3 weeks ago

S&P ups India's outlook to positive, raises hope for rating upgrade in 2 years

Hindustan Times  

New Delhi, Giving thumbs up to the economic management of the Modi government, S&P Global Ratings after a gap of 14 years upgraded India's sovereign rating outlook to positive from stable on robust growth, improved quality of public spending in last 5 years and expectation of broad continuity in reforms and fiscal policies. "India outlook revised to positive on robust …

S&P ups India growth forecast to 6.8% for FY'25
8 months, 3 weeks ago

S&P ups India growth forecast to 6.8% for FY'25

The Hindu  

S&P Global Ratings on March 26 raised India’s growth forecast for the next financial year to 6.8%, but flagged restrictive interest rates as a dampener for economic growth. “For Asian emerging market economies, we generally project robust growth, with India, Indonesia, the Philippines, and Vietnam in the lead,” S&P said in its Economic Outlook for the Asia Pacific. In largely …

Inclusion in Global Indices to Bring USD 40 bn Foreign and Equivalent Domestic Capital
9 months ago

Inclusion in Global Indices to Bring USD 40 bn Foreign and Equivalent Domestic Capital

Deccan Chronicle  

HYDERABAD: India’s inclusion in the JP Morgan Global EM Bond Index and Bloomberg EM Local Currency Government indices will see annual foreign investment of $30-$40 billion over the next five years and free up equivalent amount of domestic capital investment by the private sector, finds the World Bank. By 2023-end JP Morgan announced India’s inclusion in its Global EM Bond …

India rating upgrade possible only after fiscal deficit cut, says S&P
1 year ago

India rating upgrade possible only after fiscal deficit cut, says S&P

Live Mint  

India can improve its rating if the country significantly reduces its fiscal deficit, as per S&P's APAC Managing Director Kim Eng Tan. S&P's India GDP Outlook is Positive Last month the rating agency revised India's GDP growth projection for FY24 to 6.4 percent from 6 percent on the back of strong domestic tailwinds. “We have revised up our projection for …

Moody’s affirms India’s sovereign rating at ‘Baa3’; says GDP growth to support increase in income level
1 year, 4 months ago

Moody’s affirms India’s sovereign rating at ‘Baa3’; says GDP growth to support increase in income level

The Hindu  

Moody's on August 18 affirmed India's sovereign rating at 'Baa3' with a stable outlook and said high growth will support a gradual increase in income levels, which will further contribute to economic strength. "Moody's Investors Service has today affirmed the Government of India's long-term local and foreign-currency issuer ratings and the local-currency senior unsecured rating atBaa3. All three global rating …

Moody’s affirms India’s Baa3 rating, maintains ‘stable’ outlook on economy
1 year, 4 months ago

Moody’s affirms India’s Baa3 rating, maintains ‘stable’ outlook on economy

Live Mint  

Ratings agency Moody's has affirmed BAA3 rating on India and maintained a 'stable' outlook on the Indian economy. India's long-term local and foreign-currency issuer ratings and the local-currency senior unsecured rating remains at Baa3, while the other short-term local-currency rating stands at P-3, said Moody's in a statement on August 18. The Indian economy is likely to grow at 6.5 …

India said to bat for sovereign rating upgrade in review with global agencies
1 year, 9 months ago

India said to bat for sovereign rating upgrade in review with global agencies

The Hindu  

India is seeking an upgrade to its sovereign credit rating, currently at the lowest-possible investment grade, as the Asian nation believes its economic metrics have improved considerably since the pandemic, a senior government official said on Monday. The country's Finance Ministry met representatives from the top three rating agencies – Fitch Ratings, Moody’s Investors Service and S&P Global Ratings – …

India’s credit worthiness stable compared to negative outlook for the world: Moody’s
1 year, 11 months ago

India’s credit worthiness stable compared to negative outlook for the world: Moody’s

Live Mint  

NEW DELHI: The outlook on credit worthiness outlook for sovereigns in the Asia-Pacific region, including India, for 2023 is stable, compared to the negative outlook for sovereigns elsewhere, said rating agency Moody’s Investors Service on Monday. “The debt sustainability and financial stability are relatively well anchored in the region, with contained government liquidity risks, broadly stable debt dynamics and generally …

Fitch Ratings affirms India's sovereign rating at 'BBB-', with stable outlook
2 years ago

Fitch Ratings affirms India's sovereign rating at 'BBB-', with stable outlook

India TV News  

Fitch Ratings on Tuesday affirmed India's sovereign credit rating at 'BBB-' with a stable outlook, saying the rating derives strengths from the country's robust growth outlook and still-resilient external finances. It said India's robust medium-term growth outlook is a key supporting factor for the rating. Nevertheless, risks remain given dynamics in labour force participation, the lagging rural sector recovery, and …

S&P cuts India's growth forecast to 7% for FY23
2 years ago

S&P cuts India's growth forecast to 7% for FY23

The Hindu  

S&P Global Ratings on November 28 cut India's economic growth forecast for current fiscal year to 7%, but said the domestic demand-led economy will be less impacted by the global slowdown. India's output will expand 7% in fiscal year 2022-2023 and 6% in next fiscal year," S&P Global Ratings Asia-Pacific chief economist Louis Kuijs said. In its quarterly economic update …

S&P Global retains India’s 2022-23 growth hopes at 7.3%
2 years, 2 months ago

S&P Global retains India’s 2022-23 growth hopes at 7.3%

The Hindu  

S&P Global Ratings has retained its 2022-23 growth projection for India’s economy at 7.3%, citing a smaller impact from the global slowdown on its domestically-driven economy. India’s retail inflation is expected to stay above the 6% mark till the end of 2022, as wheat and rice prices are rising, core inflation has been ‘sticky’ and food inflation may rise again, …

Fitch retains negative outlook for India’s sovereign rating
3 years, 1 month ago

Fitch retains negative outlook for India’s sovereign rating

Live Mint  

Fitch Ratings on Tuesday reaffirmed its lowest investment grade sovereign rating for India with negative outlook holding that the country’s rating balances a still-strong medium-term growth outlook and external resilience from solid foreign-reserve buffers, against high public debt, a weak financial sector and some lagging structural issues. However, the negative outlook on the rating reflects lingering uncertainty around the medium-term …

Moody’s upgrades outlook on India from ‘negative’ to ‘stable’
3 years, 2 months ago

Moody’s upgrades outlook on India from ‘negative’ to ‘stable’

Hindustan Times  

India on Tuesday had its sovereign credit rating outlook revised to stable from negative by Moody’s Investors Service, on receding risks posed by the financial sector to the overall economy. “The decision to change the outlook to stable reflects Moody’s view that the downside risks from negative feedback between the real economy and financial system are receding. In November 2017, …

Credit rating upgrades at a decade’s high in April-September
3 years, 2 months ago

Credit rating upgrades at a decade’s high in April-September

Hindustan Times  

Credit ratings of Indian companies have improved significantly in the fiscal first half, indicating a likely end to pressures on the credit quality of firms that emerged from weak economic growth and covid-induced disruptions. Credit profiles were sustained by supportive monetary and fiscal measures such as the Reserve Bank of India’s resolution framework 2.0 for micro, small and medium enterprises, …

S&P Global Ratings lowers India's GDP growth forecast for FY22 to 9.5% from 11%
3 years, 5 months ago

S&P Global Ratings lowers India's GDP growth forecast for FY22 to 9.5% from 11%

Firstpost  

The agency lowered the growth outlook saying that a severe second COVID-19 outbreak in April and May led to lockdowns imposed by states and sharp contraction in economic activity New Delhi: S&P Global Ratings on Thursday cut India’s growth forecast for the current fiscal to 9.5 percent, from 11 percent earlier, and warned of risk to the outlook from further …

Record defaults are clouding India’s stock, bond markets
3 years, 7 months ago

Record defaults are clouding India’s stock, bond markets

Live Mint  

Credit markets are sounding warnings for other asset classes amid India’s unprecedented surge in Covid-19 cases. “One can’t expect there will be good news on the economy, good news on earnings and stock prices will go up,” said Sunil Subramaniam, managing director of Sundaram Asset Management Co. “It is undoubtedly, going to be a volatile period for the market.” Equities …

Economic Survey 2021 Lambasts Biased Sovereign Credit Ratings; Asks Agencies To Be More Transparent, Less Subjective
3 years, 10 months ago

Economic Survey 2021 Lambasts Biased Sovereign Credit Ratings; Asks Agencies To Be More Transparent, Less Subjective

ABP News  

Coming down hard on sovereign credit ratings while describing them as “noisy, opaque and biased”, the Economic Survey 2020-21 on Friday said the ratings do not reflect the fundamentals of the Indian economy. Posing questions on India’s sovereign credit ratings, the survey said: “India's fiscal policy must, therefore, not remain beholden to such a noisy/biased measure of India's fundamentals and …

Economic Survey exhorts rating agencies to be more transparent, less subjective in sovereign rating
3 years, 10 months ago

Economic Survey exhorts rating agencies to be more transparent, less subjective in sovereign rating

The Hindu  

India's sovereign credit ratings do not reflect the economy's fundamentals, the Economic Survey said on Friday and nudged the global agencies to become more transparent and less subjective in their ratings. The Economic Survey 2020-21, tabled in Parliament, said that sovereign credit ratings methodology must be amended to reflect economies' ability and willingness to pay their debt obligations, and suggested …

India’s Sovereign Credit Rating Does Not Reflect Its Fundamentals, Says Economic Survey 2021
3 years, 10 months ago

India’s Sovereign Credit Rating Does Not Reflect Its Fundamentals, Says Economic Survey 2021

News 18  

Economic Survey stated that India’s sovereign credit rating doesn’t reflect its fundamentals. “There is a large academic literature that highlights bias and subjectivity in sovereign credit ratings, especially against countries with lower ratings,” said the survey. “While sovereign credit ratings do not reflect the Indian economy’s fundamentals, noisy, opaque, and biased credit rating damage FPI flows. Sovereign credit rating methodology …

S&P Projects Indian Economy to Contract 9 Percent; Says Covid-19 Will Restrain Economic Activity
4 years, 3 months ago

S&P Projects Indian Economy to Contract 9 Percent; Says Covid-19 Will Restrain Economic Activity

News 18  

S&P Global Ratings on Monday slashed its growth forecast for India to 9 per cent in the current fiscal, from 5 per cent estimated earlier, saying that rising COVID-19 cases would keep private spending and investment lower for longer. "One factor holding back private economic activity is the continued escalation of the COVID-19," S&P Global Ratings Asia-Pacific Economist Vishrut Rana …

S&P expects India's economy to contract 9% in fiscal 2021
4 years, 3 months ago

S&P expects India's economy to contract 9% in fiscal 2021

India Today  

S&P Global Ratings said on Monday that it was expecting India's economy to shrink by 9% in the fiscal year ending March 31, 2021, larger than its previous estimate of a 5% contraction, as the country reels under the impact of the COVID-19 pandemic. S&P's latest revision comes three months after it made its projection on India's real GDP for …

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