S&P doesn't do a Moody's: Retains India's sovereign rating and outlook

Now all three rating agencies, Moody's, Fitch and S&P have the lowest investment grade rating for India

Global rating agency Standard & Poor's (S&P) has affirmed its rating on India's long-term foreign and local currency sovereign credit at the lowest investment grade with a stable outlook, saying the country's economy remains “a long-term outperformer versus peers at a similar level of income”. 

The rating action by S&P has come days after Moody’s Investors Service downgraded India's rating by a notch.

S&P, however, said the impact of the Covid-19 outbreak posed a significant challenge to the country’s economic growth trajectory. It said the economic growth and the fiscal situation of the Centre and states would improve by next year, and