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Fitch Ratings has affirmed at 'BBB-' and withdrawn all of its issue ratings assigned to Indian government senior unsecured debt securities.
“Fitch is withdrawing the ratings following recent regulatory changes by India's securities regulator, Securities and Exchange Board of India (SEBI),” said the rating agency in a press release on Friday.
Although Fitch will no longer maintain ratings on debt securities issued by the Indian sovereign, the agency will maintain India's long-term foreign and local currency Issuer Default Ratings (IDR), short-term IDR, and country ceiling, which are unchanged.
