Key Points
GANDHINAGAR: Credit rating agency CareEdge on Thursday launched a report on sovereign ratings of global economies for 39 countries, the first agency in the country to enter the global ratings space through its subsidiary, CareEdge Global IFSC Ltd, the company said in a statement.l)..
CareEdge Global IFSC Ltd, which operates from the GIFT City in Gandhinagar, assigned a long-term foreign currency (LTFC) rating of BBB+ (investment grade) to India, based on the resilient post-pandemic rebound of the Indian economy and increased focus on infrastructure investment, the statement said..
The company believes that elevated general government debt and weak debt affordability remain the key credit constraints but Indias credit assessment gains from its large and diverse economic structure as well as its healthy growth performance..
In its inaugural sovereign rating action, CareEdge Global also assigned AAA rating to Germany, the Netherlands, Singapore and Sweden; AA+ to Australia, Canada and the US; AA- to France, Japan, Korea, the UAE and the UK; A+ to Portugal, A to China and Spain, A- to Chile, Malaysia, among others..
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