Rating upgrade News

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.

India is currently at the last rung of investment grade, just a notch above the 'junk' status, by all three leading global credit rating agencies - Moody's, S&P and Fitch.

With rating agencies Fitch and Moody's affirming India's credit outlook as "stable" and "positive" respectively, Ficci Thursday said the move will uplift investor sentiment and help attract foreign investments.

Bank stocks Thursday surged by up to 6 percent, after Moody's raised India's credit rating outlook to 'positive'.

Saudi Arabia, on the back of high oil prices, has announced a balanced budget for this year of a record $228 billion.