No immediate trigger for changing India's rating: Fitch
August 22, 2013 17:07
Global rating agency Fitch today said there is no trigger for rating action as of now, but India's economy is likely to continue facing pressure on account of rupee depreciation.
"These pressures have exceeded those of other emerging Asian economies, but Fitch Ratings does not view these developments as a trigger for rating action at this point," the agency said in a note.
The agency said it will maintain a 'Stable Outlook' on India's sovereign rating at 'BBB-', mainly because of the country's sizable forex reserves, fiscal deficit management and structural reforms.
It further said market anticipation of US Fed tapering of bond purchase appears to have prompted some shift in investor perceptions of the risks.
"These pressures have exceeded those of other emerging Asian economies, but Fitch Ratings does not view these developments as a trigger for rating action at this point," the agency said in a note.
The agency said it will maintain a 'Stable Outlook' on India's sovereign rating at 'BBB-', mainly because of the country's sizable forex reserves, fiscal deficit management and structural reforms.
It further said market anticipation of US Fed tapering of bond purchase appears to have prompted some shift in investor perceptions of the risks.
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