New Delhi, Aug. 14 -- S&P Global Ratings, in its latest report, raised India's long-term sovereign credit rating to 'BBB' from 'BBB-', with a stable outlook, and upgraded the short-term rating to 'A-2' from 'A-3'. At the same time, S&P revised India's transfer and convertibility assessment to 'A-' from 'BBB+'.
S&P is an American credit rating agency (CRA) and a division of the New York-based S&P Global.
The 'BBB' rating by S&P indicates medium-grade credit quality. In S&P's scale, divided into 22 levels of ratings, 'AAA' is the highest rating reflecting an extremely strong capacity to meet financial obligations while ratings below 'BBB-' fall into the "speculative" category, meaning higher risk. Thus, the Thursday upgrade to 'BBB' signals...