Better Indo-Pak ties to benefit both nations: S&P

Standard & Poor's (S&) today said the recent "dramatic" improvement in Indo-Pak relations promised distinct benefits for the two countries if the thaw can last and ultimately translate into peaceful relations.

"The likely rewards for Pakistan can be largely defined in concrete economic terms, the combined effect of which would boost the country's positive credit rating trajectory. For India, however, the benefits are of a less tangible nature, and would accrue more to New Delhi's international standing," S&P said in its latest report.

S&P rates Pakistan's foreign currency at B+ with a stable outlook and local currency at BB with stable outlook while India enjoys a higher rating of BB+ with a stable outlook.

For India, S&P said "the benefits are clearly more on the political side, rather than economic."