Why has Fitch not upgraded India's bond rating for 12th yr?
Global rating agency Fitch didn't upgrade India's bond rating (BBB-) for the 12th year over lagging structural factors, including governance standards and business environment. Fitch said weak fiscal balances was "Achilles' heel" (shortcoming) in India's credit profile. Fitch added that India's government debt amounted to 69% of GDP in FY18, compared to median of 41% for economies rated BBB.