Economics
Fitch Revises India Rating Outlook to Stable in Boost for Singh
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India’s credit-rating outlook was revised to stable from negative by Fitch Ratings, following a nine-month policy push by the government to pare the nation’s budget deficit and revive economic growth.
The long-term foreign and local currency ratings were affirmed at BBB-, the lowest investment grade, Fitch said in a statement yesterday, leaving the nation on par with Indonesia and the Philippines. The company cut India’s outlook in June 2012.