India's 'BBB-' rating unchanged: Fitch cites energy shocks, fiscal weakness, but praises growth

Fitch Ratings kept India's sovereign credit rating at BBB- with a stable outlook. Robust growth and solid external finances balance fiscal weaknesses and energy shocks. India's macroeconomic stability and policy credibility could underpin continued robust growth. High deficits and debt constrain the rating, despite recent fiscal consolidation efforts. The agency forecasts 6.4% GDP growth for India over the medium term.