Fitch Ratings, which recently lowered India’s credit outlook to negative, has said that possibility of downgrading the country’s sovereign rating is more than 50 percent in the next 12-24 months.
“The negative outlook suggests that there is a more than likely chance of Fitch revising rating downwards from ‘BBB-’ to ‘BB+’ in the next 12 to 24 months.
“When we say more than likely chance, this essentially translates into more than 50 percent chance,” said Art Woo, director in Fitch’s APAC Sovereigns team.
