Also, S&P's statement closely follows Moody's, which also made somewhat similar staments about the country in September. "We have a positive outlook on India. On balance, the risk is on the upside. We are continuously monitoring the rating. We see pressure building up in 1-2 years and any tangible change could bring about a change in rating," Moody's Sovereign Group Senior V-P Marie Diron had said. Moody's has a 'Baa3' rating with a positive outlook for India.