S&P cuts India credit rating outlook to 'negative'
2012-04-25 12:11:05
Standard and Poor's has downgraded the outlook on India's credit rating to 'negative' from 'stable', reports said Wednesday.
The rating agency said India's investment and economic growth has slowed and the current account deficit has widened.
According to reports, S&P affirmed the sovereign's credit rating at BBB-, but said there is one in three chances of a rating downgrade. The agency expects only modest progress in fiscal reforms in the coming years, reports said.