S&P affirms India

Standard & Poor's said that it had affirmed the BBB- long-term and A-3 short-term unsolicited sovereign credit ratings on India.

The outlook is stable.

The ratings on India reflect the country's good economic growth prospects and its fairly strong external position, the agency said. Positive investment trends further underpin the ratings, with foreign direct investment and portfolio investments covering a large share of the current account deficit.

The country's weak fiscal profile and structural problems temper its strengths, the agency added. Structural problems not only constrain efficiency but also preclude a large share of the population from benefiting from the country's rising prosperity.

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