India rating may be pressured if polls end in hung parliament - S&P

MUMBAI Wed Dec 11, 2013 12:25pm IST

A farmer winnows paddy crops at a field on the outskirts of Agartala, November 28, 2013. REUTERS/Jayanta Dey/Files

A farmer winnows paddy crops at a field on the outskirts of Agartala, November 28, 2013.

Credit: Reuters/Jayanta Dey/Files

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MUMBAI (Reuters) - India's sovereign rating may come under pressure if general elections due by May next year end up with a hung parliament or with a government unable to push through reforms, Standard & Poor's said on Wednesday.

"If it is a hung parliament or if the government is unable to effect reforms, definitely by implication the rating will come under pressure," said Terry Chan, credit analyst at Standard & Poor's during a teleconference with reporters.

S&P has a "negative" outlook on India's sovereign ratings, meaning any downgrade from its current "BBB-minus" would place the country's debt in so-called "junk."

(Reporting by Neha Dasgupta and Subhadip Sircar; Editing by Rafael Nam)

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