Fitch confirmed India's long-term foreign currency debt rating as BBB-, the lowest in the investment grade. The long-term issuer's default rating was confirmed as BBB-, and the outlook remains stable. Fitch said India's ratings reflect its strong growth prospects and sound fundamentals of external financing. High growth should also contribute to the continued improvement of structured credit indicators and increase the possibility that government debt will trend downward. The report also points out that structural indicators, including governance indicators and GDP per capita, are lagging behind, limiting India's ratings.

Fitch confirmed India's long-term foreign currency debt rating as BBB-, the lowest in the investment grade. The long-term issuer's default rating was confirmed as BBB-, and the outlook remains stable. Fitch said India's ratings reflect its strong growth prospects and sound fundamentals of external financing. High growth should also contribute to the continued improvement of structured credit indicators and increase the possibility that government debt will trend downward. The report also points out that structural indicators, including governance indicators and GDP per capita, are lagging behind, limiting India's ratings.