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This is an archive article published on May 23, 1998

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India's credit rating turns negativeNEW YORK: Standard Poor's SP today affirmed India's long-term foreign currency issuer credit rating of...

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India8217;s credit rating turns negative

NEW YORK: Standard Poor8217;s SP today affirmed India8217;s long-term foreign currency issuer credit rating of Double-B-plus and its local currency issuer credit rating of Triple-B-plus, while changing the outlook on both ratings to negative from stable. The change in the outlook reflects the erosion of India8217;s external financial position following imposition of sanctions by the US and other countries in response to nuclear tests carried out by India last week, SP said.

Anand wins

MADRID: Grandmaster Viswanathan Anand of India annexed the Torneo Magistral crown with a fluent 23-move draw against world number nine Peter Svidler of Russia to bag his third Super Category title of this season. World number two Anand played with determination against Svidler, a better rated player than other GMs in the seventh edition of the Madrid tournament here last night and remained undefeated.

Informatics policy

NEW DELHI: The Government today set up a task forceto draft the national informatics policy aimed at transforming India into an information technology IT superpower within next ten years.

Flight diverted

MUMBAI: An Air India flight from Thiruvananthanpuram to Abu Dhabi was today diverted to Mumbai following an engine shutdown.

 

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