<p> Ratings agency Fitch, which in June cut its outlook of the country’s sovereign rating to negative, said the macroeconomic situation continues to remain weak with slower growth and inflationary pressures.</p>.<p><br />All the rating agencies have revised their outlook on the country in the present period of heightened economic worries and “policy paralysis”. A host of private analysts have revised downwards GDP forecast for the current fiscal to a low of 5.1 per cent.<br /><br />Fitch’s rival S&P had threatened to downgrade the rating to junk status, calling for immediate course-correction. According to a recent report, the finance ministry is planning to present the country’s strengths to the rating agencies when they come calling this month, to avoid downgrade.</p>
<p> Ratings agency Fitch, which in June cut its outlook of the country’s sovereign rating to negative, said the macroeconomic situation continues to remain weak with slower growth and inflationary pressures.</p>.<p><br />All the rating agencies have revised their outlook on the country in the present period of heightened economic worries and “policy paralysis”. A host of private analysts have revised downwards GDP forecast for the current fiscal to a low of 5.1 per cent.<br /><br />Fitch’s rival S&P had threatened to downgrade the rating to junk status, calling for immediate course-correction. According to a recent report, the finance ministry is planning to present the country’s strengths to the rating agencies when they come calling this month, to avoid downgrade.</p>