Standard Poor, the leading global rating agency, Friday reaffirmed investment grade ratings 'BBB' long-term and 'A-3' short-term on India, claiming India's economic growth prospect and debt markets are strong, reported local Press Trust of India.
The ratings on India reflect the country's strong economic growth prospect and its deep government debt market that helps accommodate its weak fiscal position, Standard Poor said in a statement said.
The 'BBB' rating category means an entity has adequate capacity to meet its financial commitments in the long-term. However, negative means that a rating may be lowered, while A-3 rating means the entity has adequate capacity to meet financial obligations in the short-term.
Source:Xinhua
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