Economics
S&P Flags Growth Risk That May Lead to India Debt Downgrade
- Yield on benchmark 10-year note rose 5 bps on S&P comments
- S&P Global rates India at BBB-, the lowest investment grade
Consumers shop in Mumbai, India. S&P Global Ratings warned it may cut the country’s sovereign ratings if economic growth doesn’t recover.
Photographer: Karen Dias/BloombergThis article is for subscribers only.
S&P Global Ratings warned it may cut India’s sovereign ratings if economic growth doesn’t recover, pulling down the nation’s bonds that are already the worst performers among Asian peers this month.
The yield on the benchmark 10-year note rose 5 basis points to 6.76%. The rating company said it expects the nation’s economy to gradually recover over the next few years with correspondingly higher growth.