Standard and Poor’s sees no hit on India’s ratingNovember 28th, 2008 - 12:26 pm ICT by IANS
Mumbai, Nov 28 (IANS) Global ratings agency Standard and Poor’s does not see any hit on India’s sovereign ratings because of the Mumbai terror attacks, but said this outlook depended on such an assault being an isolated case.”Based on the scenario that these attacks were an isolated case, we don’t expect there would be negative implications on India’s macro economic activities or the government’s fiscal position,” S&P’s credit analyst Takahira Ogawa said in a statement.
“In the short term, we expect there will be a slowdown of tourist arrivals and some negative impact on the foreign exchange and stock exchange markets, but such short-term effects will recede over time if there are no further attacks.”
The agency said the slowdown in arrivals could be more pronounced among business travellers to India.
S&P has a BBB long-term and A-3 short-term sovereign credit ratings on India, both of which affirm a stable outlook.
- S&P; cuts India's outlook, warns of ratings downgrade (Lead) - Apr 25, 2012
- S&P; lowers India's outlook to negative - Apr 25, 2012
- With reforms under stress, India stares at ratings cut (Roundup) - Apr 25, 2012
- Ratings downgrade was inevitable: Wipro - Apr 25, 2012
- BJP blames 'government mismanagement' for economic rating cut - Apr 25, 2012
- No need to panic on S&P; negative outlook: Mukherjee - Apr 25, 2012
- S&P; lowers outlook for Infosys, TCS, Wipro to negative - Apr 25, 2012
- S&P; lowers outlook on SBI, ICICI and HDFC Bank - Apr 25, 2012
- What do ratings, outlook downgrades mean? - Apr 25, 2012
- Fitch cuts SBI, PNB, ICICI Bank outlook to negative (Lead) - Jun 20, 2012
- Moody's upgrade India's ratings, Sensex soars - Jan 10, 2012
- S&P; cuts Tata Steel outlook to negative - Jul 26, 2012
- Fitch revises ratings for 11 Indian financial institutions - Jun 20, 2012
- S&P; cuts Spain's debt rating - Oct 14, 2011
- S&P; warns India risking investment downgrade; Rupee, Sensex fall - Jun 11, 2012
Tags: business travellers, credit analyst, fiscal position, isolated case, mumbai terror attack, negative implications, sovereign credit ratings, sovereign ratings, standard and poor, stock exchange markets, tourist arrivals