Fitch affirms India's sovereign rating at BBB -, highlights robust growth

Fitch Ratings has affirmed Indias Long-Term Foreign-Currency Issuer Default Rating at BBB- with a Stable Outlook. It noted that India's ratings are supported by its robust growth and solid external finances. A strengthening record on delivering growth with macro stability and improving fiscal credibility should drive a steady improvement in its structural metrics, including GDP per capita, and increase the likelihood that debt can trend modestly downward in the medium term. Still, fiscal metrics are a credit weakness, with high deficits, debt and debt service compared with 'BBB' peers.

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