DUFF AND PHELPS WARNS AGAINST CURRENT FISCAL TRENDS
Article Abstract:
India's sovereign credit worthiness is likely to be affected if the 1998-99 fiscal trend continues, Duff and Phelps Credit Rating Company (DPCR) has cautioned. DPCR is apprehensive about the Government of India's ability to meet the fiscal deficit targets set by the 1999-2000 budget. The Government has failed to meet the fiscal targets for the past two years. DPCR has stated that the Government has used a new method for arriving at the 1999- 2000 fiscal deficit target of 4.4 percent of the gross domestic product (GDP). India's fiscal deficit was 6.5 percent of the GDP during 1998-99 against the target of 5.6 percent. The high fiscal deficit may delay the reduction in the Government of India's debt, which is over 60 percent of the 1998-99 GDP. (ag)(psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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DUFF & PHELPS KEEPS INDIA'S SOVEREIGN RATING UNCHANGED
Article Abstract:
Duff & Phelps Credit Rating Company (DPCR) has retained India's foreign currency sovereign rating at BBB-. The rating remains unchanged despite the economic sanctions imposed by the US on India. The outlook on the rating is stable. BB- is the lowest level of investment grade for floating Indian papers in the global market. DPCR is monitoring developments in India to analyse the direct and indirect balance of payment effects of US sanctions. (ag)
Comment:
India: Duff & Phelps Credit Rating retains country's foreign currency sovereign rating at BBB-
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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S&P CHANGES INDIA'S RATING TO `NEGATIVE'
Article Abstract:
Standard & Poor's, an international credit rating agency, has changes its outlook on India's declined from 44.5 percent in 1996-97 to 40.5 percent in 1997-98, due to heavy competition from LML, Kinetic and Suzuki. To arrest this fall, BAL plans to launch new vze in the outlook of the sovereign rating is due to the sanctions imposed by the US and other countries in response to India's nuclear tests. (khr)
Comment:
India: Credit rating declines from 44.5% in 1996-97 to 40.5% in 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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