Fitch Ratings retains India’s sovereign rating at “BBB-“


Fitch Ratings has retained India’s sovereign rating at the lowest investment grade of “BBB-“, while the rating agency has revised downward its rating outlook for India to negative from stable. Fitch has cited increasing risk to the India’s growth and debt outlook, as a reason for the above ratings.

Click Here To Get Test Series For SBI PO 2020

Fitch Ratings stated that the COVID-19 pandemic has significantly weakened India’s growth outlook for fiscal year 2021, simultaneously exposing the challenges associated with a high public-debt burden. Although, the rating agency expects India’s economic activity to contract by 5% in the fiscal year 2021 before rebounding by 9.5% in fiscal year 2022.

Find More News on Economy Here

×

Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.

[adda247_lead_form]

Leave a comment

Your email address will not be published. Required fields are marked *