S&P retains India's rating at 'BBB-' with stable outlook; says country's fiscal position remains precarious
Global agency Standard and Poor's on Thursday retained India's sovereign ratings at 'BBB-' with stable outlook, saying the country's GDP is likely to gradually recover towards longer-term trend rates over the next two to three years
Sensex opened a shade lower and stayed in the negative terrain for the most part of the day. But sudden buying in the last one hour of trade saw it close higher by 45.20 points, or 0.13 percent, at 33,724.44
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Talks about opening up of various sectors to foreign players, says that procedures have been simplified and government has eased the business environment
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India's plan to grant new banking licences to companies could increase risks in the banking sector given the chance that new entrants could be lax about loan standards, S&P's said.
Armed with budget proposals to bring down the fiscal deficit, the Finance Ministry officials today met Standard and Poor's (S&P) representatives for the annual rating review.
PM Narendra Modi is under pressure to perform after a budget packed with ambitious targets met mild scepticism from investors and credit-rating agencies.
Emerging market currencies pared gains on Friday as traders reconsidered the impact of January's US payroll numbers on the Federal Reserve's plans to reduce its monetary stimulus program.
Fitch reiterated that the delay in increasing the borrowing capacity of the United States raises questions about the full faith and credit of the United States to honour its obligations.
Ratings agency Standard and Poor's on Friday downgraded Nokia's credit rating..
While retaining India's sovereign rating at 'BBB-' with a negative outlook citing high fiscal and current account deficits, S&P said there is at least a one-in-three likelihood of a downgrade within the next 12 months.
Asian shares rose on Wednesday on another record high for US stocks and unexpectedly strong German industrial orders.
Late on Friday, ratings agency Standard and Poor's (S&P) downgraded the credit ratings of nine European nations, including France and Austria, which lost their precious triple-A ratings. What are the implications?
Sharma's resignation as S&P's head may be linked to "smoking gun emails" that heighten suspicion that the rating agency was batting for bankers - and perhaps leaked news of its downgrade of US sovereign rating.