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S&P affirms India’s long-term rating

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Standard and Poor’s has reaffirmed India’s long-term sovereign rating on the lowest funding grade for the second time in 4 months, and it mentioned it expects the financial system to rebound from the impression of the COVID-19 pandemic.

The information retains India’s hopes alive of maintaining its coveted funding grade, with two different rating companies — Moody’s and Fitch —having put it on a destructive watch at their lowest funding grade rankings earlier this 12 months.

“The stable outlook reflects our expectation that India’s economy will recover following resolution of the pandemic, and that the strong external settings will act as a buffer against financial strains,” S&P mentioned.



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