India's rating upgrade a challenge: Fitch analyst Jeremy Zook
Fitch Ratings analyst Jeremy Zook said upgrading India's sovereign rating seems challenging due to high public debt and interest payments. "India's debt-to-GDP ratio is just above 80% on a general government basis, well above the high-50% range that we see for similar-rated peer countries," he said. In August, Fitch retained India's long-term foreign currency issuer rating at 'BBB-'.