Why does a sovereign-rating upgrade continue to elude India?
- The country’s strengths – robust GDP growth and resilient external finances – are offset by high deficits and debt levels
Fitch Ratings has affirmed India's long-term foreign-currency-issuer default rating at BBB- with a stable outlook. The global rating agency is one of the Big Three, all of which currently rate India at the lowest possible investment grade. Moody’s rates India at Baa3 and Standard & Poor’s at BBB-.