Fitch Ratings: Fitch Revises India's Sovereign Rating Outlook, Changes From Negative To Stable

Posted on 10th Jun 2022 04:34 pm by rohit kumar

Fitch Ratings on Friday said it has changed its outlook for India's sovereign rating from negative to stable. Giving reasons for this, the report said that due to the rapid economic recovery in the country, the risk of a slowdown in growth in the medium term has reduced. However, the rating agency retained India's sovereign rating at 'BBB'.

 

 

In its report released on Friday, the rating agency said that the revision in outlook reflects our view that despite the sharp shocks in global commodity prices, economic recovery in India and reduction in financial sector vulnerabilities will help in growth in the medium term. The risk of falls is reduced. However, the agency has lowered the economic growth forecast for the current fiscal to 7.8 percent. Earlier this estimate was put at 8.5 percent.

 

Also Read: ICICI Bank: After RBI, ICICI Bank gave a setback, increased interest rates by 0.50 percent

Other news

Demand for FIR in the case of cash found at judge's house, Supreme Court said - there will be no immediate hearing.

The Supreme Court on Wednesday rejected the request for an immediate hearing on the demand to dir

China said - Biden added fuel to the fire by going to Kyiv: Ukrainian people said - won the trust; Russian experts said – nothing comes except provocation

US President Joe Biden suddenly reached Kyiv on Monday, just 4 days before the completion of one

Akshay Kumar: 'One should accept the failure of his films', Rajatav Dutta praised Akshay's statement

Bollywood player Kumar i.e. Akshay Kumar is in discussion about his film 'Selfie'. Akshay's film

Karnataka-Maharashtra land dispute: CM Shinde will merge land of disputed 865 villages in Maharashtra, the proposal passed in the assembly

Maharashtra Chief Minister Eknath Shinde has taken a big step regarding the Karnataka-Maharashtra

India Rankings 2022: IIT Madras got first place in India Ranking, know which institutes won

The Ministry of Education, Government of India has today released the National Institutional Rank

'If we make laws, it will create social instability in the country,' Owaisi warns the government on the Waqf Amendment Bill.

All India Majlis-e-Ittehadul Muslimeen (AIMIM) chief Asaduddin Owaisi has warned the government o

Lok Sabha Polls 2024: 'The war against corruption will not stop, only 3% of ED cases are against politicians', PM Modi bluntly

Prime Minister Modi says that corruption at any level affects the people of the entire country. T

PM Modi: 'I have immense energy within me.., people should dedicate the next 25 years to the country'; Prime Minister after Kanyakumari visit

Prime Minister Narendra Modi stayed in Kanyakumari, Tamil Nadu on a spiritual journey after the p

In Maharashtra, bachelors protested by posing as grooms: said to the government - can't find a girl for marriage, find them and bring them

In the Solapur district of Maharashtra, on Wednesday, troubled youths started a unique movement f

CP Radhakrishnan: Congress congratulates the new Vice President of the country, reminding them of the ideals of Dr. Radhakrishnan

With the victory of NDA candidate CP Radhakrishnan in the post of Vice President, a new chapter h