OVERVIEW India's improved political setting heralds a more conducive environment for reforms, providing a boost to growth prospects and the potential for improved fiscal management. We are affirming the 'BBB-/A-3' sovereign credit rating on India and revising the outlook on the long-term rating to stable from negative. The stable outlook reflects our expectation that the newly elected government will be able to implement reforms that spur growth, which in turn improves fiscal performance. RATING ACTION On Sept. 26, 2014, Standard&Poor's Ratings Services revised its outlook on India to stable from negative. At the same time, we affirmed our 'BBB-' long-term and 'A-3' short-term unsolicited sovereign credit ratings on India. We have also affirmed our transfer and convertibility assessment
