Fitch Ratings today scaled up the outlook on India's sovereign ratings from negative to stable owing to the government's efforts to contain the fiscal deficit and address structural issues to perk up investment and growth.
The rating agency affirmed its long term foreign and local currency issuer default rating at BBB.It also affirmed the country ceiling at BBB and the short foreign currency IDR at 'F3'.
The agency said the stable outlook was a result of the governments action to boost the economic activities. It reflects the measures taken by the govenment to contain the budget deficit,including the commitments made in the FY14 budget and progress in addressing structural impedients to investment and economic growth.
The rating agency affirmed its long term foreign and local currency issuer default rating at BBB.It also affirmed the country ceiling at BBB and the short foreign currency IDR at 'F3'.
The agency said the stable outlook was a result of the governments action to boost the economic activities. It reflects the measures taken by the govenment to contain the budget deficit,including the commitments made in the FY14 budget and progress in addressing structural impedients to investment and economic growth.
No comments:
Post a Comment