S&P has reaffirmed the Sovereign Credit Rating of India at BBB- with outlook as stable. In their Summary publication on India they have stated that India's economy continues to achieve impressive long term growth rates despite a recent deceleration. It is believed that the economic slowdown is cyclical rather than structural. They expect the economy to continue to outperform its peers on the back of rising domestic demand and strong demographics. They have maintained a stable outlook on the basis of their expectation that over the next two years the growth will remain strong and India will maintain its sound net external position and fiscal deficit will remain elevated but broadly in line with their forecast.
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