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S&P affirms negative outlook on India, says chances of downgrade remain

Ratings agency Standard & Poor's affirmed India's sovereign rating at "BBB-minus" with a "negative" outlook, reiterating there was a one-in-three chance of a ratings downgrade over the next 12 months, a statement said on Friday.  Full Article 

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Dassault 'optimistic' on Rafale talks with India

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The logo of French airplanes maker Dassault Aviation is seen on Dassault Aviation headquarters in Saint Cloud, Paris suburb, March 22, 2012. REUTERS/Benoit Tessier

The logo of French airplanes maker Dassault Aviation is seen on Dassault Aviation headquarters in Saint Cloud, Paris suburb, March 22, 2012.

Credit: Reuters/Benoit Tessier

PARIS | Wed Dec 5, 2012 2:01am IST

PARIS (Reuters) - Talks between French plane-maker Dassault Aviation (AVMD.PA) and India over a $15 billion Rafale fighter contract are continuing, Dassault's chief executive said, adding he was "relatively optimistic".

India selected the Rafale to enter exclusive negotiations for a potential 126-plane order in late January, beating the competing Eurofighter Typhoon (EAD.PA) (SIFI.MI) (BAES.L) and lifting hopes for a sale that would boost French pride and restore the luster of its aviation industry.

"We are deep in talks at the moment. It's a complicated country, the negotiations are tough, but there is a desire to wrap up on both sides," CEO Charles Edelstenne told a parliamentary hearing on Tuesday.

"I'm relatively optimistic."

Edelstenne also said that growing public speculation over a change at the top for subsidiary Thales (TCFP.PA) - which he described as an "eventual change in governance" - was having an impact on talks with clients and making them more difficult.

(Reporting by Cyril Altmeyer; Editing by Tim Dobbyn)
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