{
  "id": 3798560,
  "title": "S&P retains India rating, keeps outlook stable on economic momentum",
  "url": "https://urgent.news/2026/08/27/s-p-retains-india-rating-keeps-outlook-stable-on-economic-momentum",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-27T18:45:34.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/indicators/sp-retains-india-rating-keeps-outlook-stable-on-economic-momentum/articleshow/133576819.cms"
  },
  "original_language": "en",
  "account": "Global rating agency S&P maintained India's long-term sovereign credit rating at BBB- with a stable outlook on Thursday, citing the country's dynamic and fast-growing economy, strong external balance sheet, and stable institutions that provide policy predictability. However, S&P noted that these advantages are offset by the government's weak fiscal performance, a high debt stock, and low GDP per capita. High energy prices resulting from the West Asia conflict and challenging agricultural conditions due to below-normal monsoon rains could slightly slow India's growth this year, according to the agency. Despite this, S&P anticipates that economic fundamentals will remain sound, supporting robust growth over the next two to three years. Last year, S&P upgraded India's rating from BBB- to BBB after 18 years, highlighting the country's economic resilience and sustained fiscal consolidation. Other rating agencies, Fitch and Moody's, have retained India's rating at BBB- since 2006 and 2020, respectively. For the short-term India credit rating, S&P has kept it at A-2, signaling the country's ability to meet financial commitments satisfactorily. The agency projected India's growth to slow to 6.6% in the current fiscal year from an average of 7.9% in the previous five years due to ongoing energy shocks and agricultural challenges. However, S&P expects India's medium-term growth to remain strong, averaging 7% over the next three years, which would be higher than that of peer nations with similar income levels. Factors such as public investment and consumer momentum are expected to support solid growth prospects in the next two to three years. S&P believes that policy continuity will further bolster economic reforms and fiscal consolidation. However, any erosion of political commitment to consolidate public finances or a significant slowdown in India's economic growth on a structural basis could result in a negative rating action. Conversely, a meaningful narrowing of fiscal deficits, leading to the net change in general government debt falling below 6% of GDP on a structural basis, could lead to rating improvements.",
  "summary": "Last year, S&P, the biggest of the global ratings firms, had raised its rating on India to 'BBB' from 'BBB-' after 18 years, citing the country's economic resilience and sustained fiscal consolidation. However, Fitch has retained its sovereign rating on India at BBB- since 2006, while Moody's has retained the same lowest investment grade of 'Baa3' since 2020. As for short-term India credit…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Economic Times",
        "title": "S&P keeps India 'stable', despite some rough weather",
        "url": "https://urgent.news/2026/08/27/s-p-keeps-india-stable-despite-some-rough-weather",
        "published": "2026-08-27T12:10:07.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}