Standard & Poor's Confirms India's Credit Rating

Standard & Poor's Confirms India's Credit Rating Standard & Poor's confirms India's credit rating. The organization recorded the country's rating outlook as 'stable'. While the international credit rating agency Standard & Poor's (S&P) confirmed the long-term credit rating of India as "BBB-"; also confirmed the grade outlook as "stable". In the statement made by the international credit rating agency, it was said that India's unsolicited local and foreign credit ratings of long term "BBB-" and short term "A-3" were confirmed. In the statement, which stated that India's long-term credit rating outlook was left as 'stable', it was stated that the economic situation of the country is expected to recover after the Coronavirus (Covid-19) pandemic. In the statement, which emphasized that the Indian economy will experience a 'record' shrinkage due to the Coronavirus (Covid-19) epidemic in the fiscal year 2021, which will end on March 31, it was reported that the shrinkage forecast for the country's economy was increased from 5 percent to 9 percent. It is said that the weakness in the country's economic situation will worsen this year and will restrict the government's ability to support the economy.