India's rating may come under pressure if polls end in hung Parliament: S&P

The author has posted comments on this articleReuters | Dec 11, 2013, 02.58PM IST

MUMBAI: India's sovereign rating may come under pressure if general elections due by May next year end up with a hung Parliament or with a government unable to push through reforms, Standard & Poor's said on Wednesday.

"If it is a hung Parliament or if the government is unable to effect reforms, definitely by implication the rating will come under pressure," said Terry Chan, credit analyst at Standard & Poor's during a teleconference with reporters.

S&P has a "negative" outlook on India's sovereign ratings, meaning any downgrade from its current "BBB-minus" would place the country's debt in so-called "junk."

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