India credit rating News

Rating agency Fitch on Friday affirmed India rating at 'BBB-', with stable outlook saying that weak fiscal balances constrain ratings.

The government on Wednesday slammed global rating agencies for not upgrading India's sovereign rating despite a slew of reforms, saying they need to do some "introspection" as investors globally feel the country is "under-rated".

Dashing the government's hope of improved credit rating, S&P on Wednesday retained India's rating at 'BBB-' with a stable outlook and ruled out any upgrade in two years, citing weak public finances.

Foreign banks have stopped opening branches in India as they need to set aside a lot more capital due to the country's "higher risk" credit rating and they feel it is "not worth" doing so, Reserve Bank Governor Raghuram Rajan has said.

Developers will not reduce price to boost sales, rather will continue with their strategy to reduce apartment size and offer freebies, Moody's Investors Service said.

India may avoid drought this year, but its economy remains vulnerable to fluctuations in annual rainfall, a factor that continues to constrain the country's sovereign credit, Moody's Investors Service said Tuesday.

Maintaining its outlook on India`s `Baa3` rating as stable, global credit rating agency Moody`s Investors Service said on Wednesday that an economic recovery along with fiscal improvement will be credit-positive.

Moody's said the upward revision in GDP growth estimates on the basis of base year revision highlight the strength of the economy.