http://www.reuters.com/article/2012/08/16/us-india-ratings-idUSBRE87F1BJ20120816?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29&utm_content=Google+Reader

Judging the impact of a junk-rated India: not as bad as it looks

 By Swati Bhat

MUMBAI | Thu Aug 16, 2012 5:04pm EDT

MUMBAI (Reuters) – As India faces the prospect of being the first BRICS country to lose its investment-grade credit rating, investors have already delivered their verdict: to them, the country already trades at “junk”, which should temper any ensuing market reaction.

Credit default swaps suggest India is already a bigger investment risk than emerging markets such as Vietnam and more than double….”