Asia Economy

Fitch cuts India's outlook to 'negative,' maintains rating

Key Points
  • Ratings agency Fitch cut its outlook for India to "negative" from "stable" on Thursday, saying that the coronavirus outbreak had an unfavorable impact on the economy.
  • It maintained its rating for India at 'BBB-'.

Ratings agency Fitch cut its outlook for India to "negative" from "stable" on Thursday, saying that the coronavirus outbreak had an unfavorable impact on the economy.

"The coronavirus pandemic has significantly weakened India's growth outlook for this year and exposed the challenges associated with a high public-debt burden," Fitch said in a statement.

It maintained its rating for India at 'BBB-'.