Persisting slow economic growth could affect India’s sovereign rating, S&P Global Ratings has warned in its latest note. In a late night statement on Thursday, S&P said it could consider downgrading India’s sovereign rating in case the economy failed to recover. Last month, another global rating agency, Moody’s, changed its outlook for India’s credit rating from stable to negative due to the economic slowdown, financial stress in the rural sector, and liquidity issues in the financial sector.
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First Published: Fri, December 13 2019. 00:23 IST