 "Will downgrade rating if Indian economy doesn’t show recovery: S&P")
S&P Global Ratings on Thursday forecast India’s 2019-20 gross domestic product (GDP) to grow at 5.1 per cent and warned of a rating downgrade if an economic recovery does not happen.
This comes just days after the agency reiterated its rating and outlook for the country and a month after Moody’s cut its sovereign credit outlook for India. S&P currently has a ‘BBB-’ rating with a ‘stable’ outlook.
In a ‘Frequently Asked Questions’ note on India, S&P said the country’s long-term economic outperformance remained intact, despite the agency’s relatively weaker growth expectations for this fiscal year. “We are forecasting real GDP growth
