 "S&P, standard, poor, standard and poor's")
Global rating agency Standard & Poor's (S&P) has affirmed its rating on India's long-term foreign and local currency sovereign credit at the lowest investment grade with a stable outlook, saying the country's economy remains “a long-term outperformer versus peers at a similar level of income”.
The rating action by S&P has come days after Moody’s Investors Service downgraded India's rating by a notch.
S&P, however, said the impact of the Covid-19 outbreak posed a significant challenge to the country’s economic growth trajectory. It said the economic growth and the fiscal situation of the Centre and states would improve by next year, and
