Standard and Poors', the international rating agency, has affirmed its 'BB/B' foreign currency and 'BB+/B' local currency sovereign ratings for India with negative outlook, the government informed the Lok Sabha on Friday.

In reply to a question, Minister of State for Finance Anandrao V Adsul said while undertaking the review of ratings in June 2003 for the sovereign, the agency considered issues relating to external liquidity, structural strength, fiscal deficit, status of public debt and public finances.