India could see credit downgrade

Standard & Poor’s said that India could become the first of the BRIC economies to lose its investment-grade status yesterday, explaining “slowing GDP growth and political roadblocks to economic policymaking are just some of the factors pushing up the risk” to the government’s financial stability. Indian stocks fell into negative territory after the S&P statement, while the rupee skidded to around 55.82 to the dollar, a near one-week low, from 55.45 earlier.