S&P affirms India's BBB- rating.
S&P says Covid-19 crisis has exacerbated India's credit weaknesses.
S&P's rating and stable outlook reflects India's relatively stronger long term growth.
S&P foresee a permanent loss of approximately 13% of output compared with India's pre-pandemic trend.
India’s economy may experience a record contraction in the current financial year mainly due to the global Covid-19 pandemic. bloombergquint.com/business/india…
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