NEW DELHI : Fitch Ratings on Thursday revised downward its rating outlook for India from stable to negative while retaining the sovereign rating at the lowest investment grade, citing increasing risk to the country’s growth and debt outlook.All three major rating agencies now have the lowest investment grade rating for India.
Fitch and Moody’s have a negative outlook while S&P Global Ratings has a stable outlook, holding that it expects the country’s economy and fiscal position to stabilize and begin to recover from 2021 onwards.“The coronavirus pandemic has significantly weakened India’s growth outlook for this year and exposed the challenges associated with a high public-debt burden," Fitch said.The decision of Fitch may come as a.