Though the rating agency Fitch has a stable outlook on India with the 'BBB-' sovereign credit ratings, it is just above the ratings ladder's next worst "junk" status that forces investors to run fast.
Analyst Woo said Fitch is monitoring India's growth, inflation, public finances and the current account deficit and its funding; as it was getting more challenging for India to meet its fiscal deficit target that may dip to $70bn; in the current fiscal year ending March 2014 with revenues slowing.
Analyst Woo said Fitch is monitoring India's growth, inflation, public finances and the current account deficit and its funding; as it was getting more challenging for India to meet its fiscal deficit target that may dip to $70bn; in the current fiscal year ending March 2014 with revenues slowing.
The rating agency, which is also monitoring India's growth, public finances and the relative current account deficit and its funding, has warned that India and Indonesia may be downgraded further if the governments of these countries fail to calm current financial market tensions.
In the light of the recent warning of Moodys' and subsequent downgrading of Indian shares, it is heartening to note Fitch still waiting to act in this line,may be they have still to respond to the Indian Governments charge that Fitch passed confidential Indian information to US in violation of the international treaty in this regard, is it a fact that the rating agency afraid of its wrong and does not want to annoy the Indian Government ? In any case it has given temporarily relief to Indian establishment.