Fitch downgrades India’s outlook from stable to negative

Fitch Ratings downgraded India’s credit outlook from stable to negative on Monday, saying that the country’s growth potential will deteriorate without a quickening of structural reforms.

The latest blow to India’s economy follows a similar downgrade by Standard & Poor’s in April, with both agencies maintaining India’s rating at BBB- but raising concerns over flagging growth and troublesome deficits.

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