Housing & Urban Development Corporation announced that Fitch Ratings has revised the Outlook on HUDCO to Negative from Stable. The Long-Term Issuer Default Ratings (IDRs) have been affirmed at 'BBB'.
The rating action follows the revision in the Outlook on India's 'BBB' sovereign rating to Negative from Stable on 18 June 2020 as HUDCO's rating is credit-linked to that of India.
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