Impact of a junk-rated India? Not as bad as it looks

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 the risk of fellow BRICS Brazil, Russia, China, and South Africa. ...