Fitch affirms India at 'BBB-', says medium-term growth outlook is key

Fitch said India's rating reflects strengths from a robust growth outlook compared to peers and still-resilient external finances

Fitch Ratings on Tuesday affirmed India's long-term foreign currency issuer default rating at "BBB-", saying that the world's fastest-growing economy has a stable outlook, reported CNBC.

The global rating agency said India's rating reflects strengths from a robust growth outlook compared to peers and still-resilient external finances.
 

It said India's robust medium-term growth outlook is a key supporting factor for rating. The financial sector risks continue to ease on, the agency said, adding that the asset quality pressures are likely to remain "well-contained" even as regulatory forbearance unwinds, supporting India's financial sector's performance.
 

Fitch said India's general government deficit is