NEW DELHI, Jan 31 (Reuters) - The possibility of India
losing its investment grade credit rating has receded as a
result of the reform measures taken by the government since
September last year, an analyst with rating agency Standard &
Poor's told Reuters on Thursday.
"It is still at least a one in a three chance that we could
downgrade. But the likelihood of it is less than when we first
indicated the negative outlook in April last year," analyst
KimEng Tan said in a telephone interview from Singapore.
The government has undertaken a series of economic reforms
to boost investor sentiment, opening the retail and aviation
sectors to more foreign investment, cutting expensive fuel
subsidies, slapping higher duties on gold imports and delaying
tax changes that threatened to deter capital inflows.
(Reporting by Rajesh Kumar Singh, editing by Ross Colvin)