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Fitch affirms India’s rating at ‘BBB-‘, outlook stable

Global ratings agency Fitch on Tuesday affirmed India's long-term foreign and local currency ratings at 'BBB-', the lowest investment grade,…

IANS | Mumbai | May 2, 2017 11:48 am

Fitch affirms India’s rating at ‘BBB-‘, outlook stable

(Photo: Getty Image)

Global ratings agency Fitch on Tuesday affirmed India's long-term foreign and local currency ratings at 'BBB-', the lowest investment grade, but said the outlook is "stable".

Further, the rating agency said it expected India's real Gross Domestic Product to grow at 7.7 per cent during 2017-18. 

"India's positive GDP growth outlook stands out among peers," it said in a statement.

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"Fitch forecasts India's real GDP growth to accelerate to 7.7 per cent in FY17-18, from 7.1 per cent in FY16."

The agency expects structural reforms to increase growth, along with higher real disposable income.

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