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Fitch - India’s sovereign rating
May 3 , 2018
2269 days
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- Global rating agency Fitch Ratings did not upgrade India’s sovereign rating, reaffirming its lowest investment grade rating at BBB-, with a stable outlook.
- A rating upgrade changes the profile of the country and makes it attractive to investors.
- Fitch projected the economy to revive to grow at 7.3% in 2018-19 and 7.5% in 2019-20 from 6.6% a year ago.
- Weak fiscal finances and some lagging structural factors, including governance standards and a still difficult, but improving, business environment are the reason for its rating action.
- In 2017, Moody’s had upgraded India’s rating (to Baa2 from Baa3) after a gap of nearly 14 years, while Standard & Poor’s (S&P) retained its BBB- rating with stable outlook.
Sovereign credit rating
- Sovereign credit rating gives investors insight into the level of risk associated with investing in the particular country, including its political risk.
- Fitch Ratings, Moody’s Investors Service and Standard & Poor’s (S&P) are big three international credit rating agencies controlling approximately 95% of global rating
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