India’s credit rating outlook was raised to positive by Moody’s Investors Service and Fitch Ratings boosted its growth forecast, signaling optimism that policy makers can improve Asia’s No. 3 economy.
The country’s Baa3 rating was affirmed and the outlook was revised from stable, Moody’s said in a statement Thursday in Singapore. Fitch affirmed India’s BBB- rating with a stable outlook. Both companies rate India at the lowest investment grade, on par with Indonesia and Turkey.