Fitch explains rating method to government

There seems to be a change in the equations between the global rating agencies and the government.
On Tuesday, Fitch representatives met senior finance ministry officials for the customary post-Budget meeting. What was different this time around was that Fitch officials explained the rating agency’s methodology to finance ministry officials.

At earlier meetings with rating agencies, with Moody’s and S&P, senior policymakers from North Block used to repeatedly impress upon the agencies the reform measures carried out and the policy initiatives taken, asking for an upgrade of India’s ratings.

“They (Fitch) were explaining their ratings methodology to us,”