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Fitch retains India's rating at 'BBB-'
May 10, 2023
|The Morning Standard
GLOBAL rating agency Fitch on Tuesday retained India's sovereign rating at 'BBB-' with a stable outlook saying the country has a robust growth outlook and resilient external finances.
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A 'BBB' issuer default rating means default risk is low and payment capacity to meet financial commitments is adequate, but adverse business or economic conditions could impair this capacity. It said India will be one of the fastest-growing Fitch-rated sovereigns globally at 6% in FY24, supported by resilient investment prospects. However, the FY24 GDP forecast is lower than its earlier projection of 6.2%. It also lowered the country's economic growth rebound to 6.7% for 2024-25 as opposed to 6.9% projected earlier.
هذه القصة من طبعة May 10, 2023 من The Morning Standard.
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