S&P reaffirms India's stable outlook

Dhwani Mehta FXStreet

Despite slowing India’s GDP growth in Q2, S&P Ratings reaffirmed sovereign rating of India at BBB- with a stable outlook, India’s Economic Affairs Secretary Atanu Chakraborty tweeted out on Tuesday.

Key Quotes:

“They have stated that India's economy continues to achieve impressive long-term growth rates despite a recent deceleration.”

"S&P expects the Indian economy to continue to out-perform its peers and that the growth will remain strong over the next 2 years."

It’s worth noting that Moody’s Investors Service cut India credit rating outlook to negative last month, in the face of worsening shadow banking crunch and a prolonged economic slowdown.

USD/INR Technical Analysis: Bullish bias intact

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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