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S&P REVISES INDIA’S GDP GROWTH FORECAST TO 9.8% FOR FY22

S&P REVISES INDIA’S GDP GROWTH FORECAST TO 9.8% FOR FY22

Context

S&P Global Ratings revises India's GDP growth forecast for the current financial year to 9.8 per cent.

Details

  • S&P currently has a 'BBB-' rating on India with a stable outlook.
  • In March, it had forecasted a 11 per cent GDP growth for the April 2021-March 2022 fiscal on account of a fast economic reopening and fiscal stimulus.
  • The Investment Grades mark the Level or Risk of Default of a bond or organisation.
  • There are three Investment Grades to denote the risk profile:
  1. ‘AAA’ or ‘AA’ for High Credit Quality,
  2. ‘A’ or ‘BBB’ for Medium Credit Quality, and
  3. ‘BB’ or ‘B’ or ‘CCC’ for Low Credit Quality.

About S&P Global Ratings

  • It is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities.
  • It  is considered the largest of the Big Three credit-rating agencies, which also include Moody’s Investors Service and Fitch Rating.
  • It’s headquarter is located in New York.

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