India Rating News

Here's a recap of what happened in the business world in 2017.

In an interview with Zee Media, CII Director General Chandrajit Banerjee shares his views on India's growth prospects, expectations for an upward trajectory and more.

Standard & Poor's has kept its sovereign rating for the country unchanged.

S&P has taken favourable view on reforms being undertaken. Stable outlook reflects S&P's view that over the next 2 years growth will remain strong. Moody's last week upgraded India's sovereign credit rating by a notch to Baa2.

India no longer resembles the "Fragile Five" country of 2013, when the RBI was forced to raise rates by 75 basis points to arrest foreign investment outflows.

The government on Wednesday slammed global rating agencies for not upgrading India's sovereign rating despite a slew of reforms, saying they need to do some "introspection" as investors globally feel the country is "under-rated".

Dashing the government's hope of improved credit rating, S&P on Wednesday retained India's rating at 'BBB-' with a stable outlook and ruled out any upgrade in two years, citing weak public finances.

Moody's Investors Service on Tuesday said the reforms undertaken by the government will help boost investor confidence and bolster growth potential, but cautioned muted private investment and banking sector risks will remain a constraint on India's sovereign rating.

The agency said it expects the growth rate for last quarter of 2015-16 at 7.4 percent, which translates into the 2015-16 GDP growth of 7.5 percent.

Since January 2015, RBI has cut key policy rates by a cumulative 1.25 percentage points (125 basis points).

India Ratings Thursday revised downwards to 7.5 percent the GDP growth forecast, from earlier estimate of 7.7 percent, for the current financial year because of weak agricultural growth.

India on Monday pitched for rating upgrade by Standard and Poor's citing strong macroeconomic indicators, low inflation and improvement in fiscal as well as current account deficits.

Finance Ministry is expecting a rating upgrade by credit agencies by the year-end on the back of policy initiatives, moderating inflation and improvement in the fiscal position of the government.

US-based Moody's has a caveat before considering a rating upgrade for India -- the country should stick to fiscal consolidation and effectively address weaknesses in the banking sector.

India on Thursday pitched for a rating upgrade by global agency Fitch saying that the country's growth prospects have improved on account of recent reform measures as well as lower oil prices, and its fiscal consolidation programme is on track.

The global rating agency Moody's on Wednesday retained its stable outlook on the sovereign rating at Baa3, citing the country's large and diversified economy and healthy private savings rate.

Maintaining its outlook on India`s `Baa3` rating as stable, global credit rating agency Moody`s Investors Service said on Wednesday that an economic recovery along with fiscal improvement will be credit-positive.

Efforts being taken by the Narendra Modi government to boost the real estate sector are in the 'right direction', a senior official of Crisil Ratings said.