Fitch revises outlook on India to stable

Fitch Ratings on Friday revised its outlook on India’s long-term foreign currency Issuer Default Rating (IDR) to Stable/from Negative citing diminished downside risks to medium-term growth.

The rating agency has also affirmed India’s Issuer Default Rating (IDR) at ‘BBB-‘.

The Outlook revision reflects our view that downside risks to medium-term growth have diminished due to India’s rapid economic recovery and easing financial sector weaknesses, despite near-term headwinds from the global commodity price shock.

We expect robust growth relative to peers to support credit metrics in line with the current rating, Fitch Ratings said in a statement.

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