S&P likely to retain APAC ratings

Sovereign Ratings

•  India has BBB- rating with a stable outlook
•  Avg rating lying between BBB and BBB+
•  ME unrest poses most risk to stable sovereign outlooks

New Delhi: Growth of Asian emerging and developing economies will still be a credit strength for many governments in the region, S&P Global Ratings has said, as it expects to retain credit ratings of APAC economies over the next one to two years. Out of the 21 countries, to which S&P gives a sovereign rating in the Asia-Pacific (APAC) region, 19 have a stable outlook.

The US-based agency has a ‘BBB-’ rating on India, with a stable outlook. In its report ‘Asia-Pacific Sovereign Rating Trends 2024’, S&P said most sovereign ratings in Asia-Pacific are investment grade with the average rating in the region lying between ‘BBB’ and ‘BBB+’.