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NEW DELHI: Global rating agency Standard and Poor's does not expect Mumbai terror attacks to have any negative impact on India's macro economy and hence its sovereign ratings, even as stock markets may witness negative effect in the short run.

The agency also expects slowdown of tourist arrivals, particularly business travellers to India as well as some negative impact on the foreign exchange markets.

The ratings, at BBB- with stable outlook, may remain intact as S&P said it does not expect there would be negative implications on India's macro-economic activities or on the government's fiscal positions, as these strikes are isolated incidents.

“In the short term, we expect there will be a slowdown of tourist arrivals, particularly business travellers in India and some negative impact on the foreign exchange, and stock markets, but short term effects will recede over time if there are no furthe r attacks,'' the rating agency said. Stock and forex markets remained closed today. - PTI

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