More sovereign downgrades than upgrades in 2016: S&P

On the heels of both the World Bank and IMF lowering their global growth forecasts, rating agency Standard & Poor (S&P)'s on Thursday warned of more sovereign downgrades than upgrades globally in 2016. Of the 131 sovereigns S&P rates globally, 25 had negative outlook as against eight positive as of December 2015, a ratio of 3 to 1. For the past three years, the international rating outfit has been maintaining a BBB- rating on India with a stable outlook.