Mumbai/New Delhi, May 2 (PTI): Fitch, the US-based rating agency, on Tuesday cited India’s “weak fiscal position” to keep the country’s sovereign rating unchanged at 'BBB-', the lowest investment grade with stable outlook, which it had assigned more than a decade ago. Fitch had last upgraded India's sovereign rating from BB+ to BBB- with stable outlook on August 1, 2006. In its note on rating, Fitch said: “The sovereign ratings at BBB- balance a strong medium-term growth outlook and favourable external balances with a weak fiscal position and difficult business environment”. The stable outlook, it said, reflects the assessment that upside and downside risks to the ratings are broadly balanced. India continues to be rated 'BBB-' -- just a notch above the junk grade and lowest among investment grade ratings -- by most of the global credit rating agencies.

Source: The Telegraph May 02, 2017 14:03 UTC