November 24, 2017 / 11:53 AM / 6 months ago

S&P affirms India's rating at 'BBB-minus' with 'stable' outlook - reports

MUMBAI, Nov 24 (Reuters) - Standard & Poor’s stuck with its “BBB-minus” sovereign rating and “stable” outlook for India, TV channels reported on Friday citing unidentified sources, a week after rival Moody’s upgraded the country’s rating.

The decision, if confirmed, would contrast with Moody’s Investors Service’s decision on Nov. 17 to upgrade India’s credit rating to “Baa2” from “Baa3”, one notch higher than S&P’s current rating, citing progress on economic and institutional reforms.

An S&P spokesman was not immediately reachable. (Reporting by Swati Bhat)

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