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India's rating may be pressured if polls end in hung parliament: Standard & Poor

Published on Dec 11, 2013 3:06 PM
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MUMBAI (REUTERS) - 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."