New Delhi. Rating agency Fitch has maintained India’s sovereign rating outlook at ‘BBB-‘ with stable outlook. The rating agency said in its statement that India’s growth is looking strong.
Fitch Ratings said in a statement on Tuesday that India’s long-term foreign currency issuer default rating has been retained at ‘BBB’ with a stable outlook. Fitch said strong growth potential is an important reason for the sovereign rating. The agency said that India’s growth looks strong. Fitch said India’s rating reflects stronger growth and external financial resilience than other countries, which have helped the Indian economy weather major external shocks of the past year.
It is worth mentioning that international rating agencies decide ‘sovereign rating’ on the basis of the ability of the governments of different countries to repay the debt. For this, she considers the economy, market and political risk as the basis. Fitch has placed India’s rating at ‘BBB-‘, the lowest investment grade rating, since August 2006. Sovereign ratings are generally determined by Standard & Poor’s (S&P), Fitch and Moody’s investors around the world.
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