Fitch Ratings has revised the outlook on Kerala to ‘stable’ from ‘negative’ while retaining a ‘BB’ rating for the State’s long-term foreign and local currency issuer default ratings (IDR).
The revision of the outlook to stable reflects an improving trend in the aftermath of the COVID-19 pandemic, the latest ratings published on August 25 said.
It noted that the State’s economic expansion should adequately offset the increased debt burden, resulting in steady debt ratios.
