S&P affirms Kerala's 'BB-/B' rating, gives outlook stable to state

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S&P affirms Kerala's 'BB-/B' rating, gives outlook stable to state - Business Standard

Quick Summary:

The state's long-term planning and level of transparency and disclosure compare favorably with those of domestic peers.

Kerala's large deficits resulting from spending on socio-economic programmes constrain the ratings for the state.

Its after-capital-account deficit could average about 38.5 per cent of total adjusted revenue over the same period, after spiking to 49.6 per cent in fiscal 2021," said S&P.