Bungalow Meeting Spurred Indian Overhaul Now Facing Biggest Test

Bungalow Meeting Spurred Indian Overhaul Now Facing Biggest Test

Dhiraj Singh/Bloomberg

Buildings stand at Nariman Point beyond the water in Mumbai. India faces at least a one-in-three possibility of a downgrade, S&P analysts said in a note, reiterating comments made in April when the rating agency lowered India’s outlook.