S&P affirms India’s ratings

Standard & Poor’s said it affirmed its BBB- long-term and A-3 short-term sovereign credit ratings on the Republic of India.

The outlook remains stable.

S&P said the ratings on India reflect the country’s sound external profile and improved monetary credibility. These factors, combined with strong democratic institutions and a free press, both of which yield policy stability and predictability, underpin the investment-grade rating on India.

These strengths are balanced against vulnerabilities stemming from the country’s low per capita income and weak public finances, the agency added.

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