Chances of India downgrade higher than for Indonesia: S&P

Standard & Poor's considers chances of a credit ratings downgrade for India higher than for Indonesia, Bloomberg News reported.

September 04, 2013 / 09:43 IST

Standard & Poor's considers chances of a credit ratings downgrade for India higher than for Indonesia, Bloomberg News reported on Tuesday, citing comments made by an analyst of the credit rating agency at a briefing in Seoul.

S&P analyst Kim Eng Tan also said there was more than a one-in-three chance for India rating cut within two years, according to Bloomberg.

S&P has a "BBB-minus" rating on India with a "negative" outlook. A downgrade would push Asia's third largest economy to "junk" status.

S&P rates Indonesia at "BB-plus."

The rupee touched a session low of 67.36 to the dollar after the news.

Also Read: Can't write-off India story on rupee crisis: Credit Suisse

first published: Sep 3, 2013 02:48 pm

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