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Does it mean the best scenario? Wikipedia definition of base case

S&P’s base case is for a sharp rebound in global growth in 2021, and in a series of reports published Tuesday, the agency suggested that this in combination with “strong bank balance sheets, support from authorities to retail and corporate markets, and regulators’ flexibility,” should limit further downgrades next year.

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2 Answers 2

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When talking about financial projections, "base case" means the case that they believe is the most likely to occur.

See: Article

This article is saying that S&P suggests that the most likely thing to happen in 2021 is a sharp rebound in global growth.

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It means the likely outcome. Lexico has

base case
NOUN

1 The particular case of a system being analysed in which no variables are changed from their initial values.

So it means based on the information known (but anything can happen).

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