Fitch enhances ratings of 13 Indian firms to 'moderate downgrade risk'

These companies are either govt-related entities (GREs) with ratings linked to the sovereign rating or pvt entities whose ratings would be downgraded if India's Country Ceiling was lowered to 'BB+'

Global rating agency Fitch on Monday moved 13 Indian companies from the category of entities carrying 'elevated downgrade risk' — becoming sub-investment grade entities — to those with 'moderate downgrade risk'. This follows the stabilisation of their outlooks and upgrading outlook on India's sovereign rating to 'stable' from 'negative'.

In an update of the Stagflation Downgrade Risk Assessment, Fitch Ratings said it has revised the outlook to 'stable' from 'negative' on 13 Indian companies. These companies are either government-related entities (GREs) with ratings linked to the sovereign rating or private entities whose ratings would be downgraded if India's Country Ceiling was