Fitch Maintains Status Quo in India's Ratings at 'BBB-' With Stable Outlook

A week after its larger peer S&P upgraded India's ratings to BBB with a stable outlook—after holding a BBB- rating for 18 years, Fitch has chosen to remain in status quo to affirm the BBB- ratings with stable outlook, despite citing the robust growth and solid external finances of the country.

- ENS ECONOMIC BUREAU @ Mumbai

The agency on Monday said demand growth is seen solid, aided by government capex, private consumption and projected a robust 6.5% growth for FY26 on the back of the GST and other reforms. "The proposed GST reforms should support consumption and offset growth risks arising from higher US tariffs," it said, adding, however, the debt burden will be a reason for credit weakness.