Fitch cuts Indian Railway Finance view to negative

Fitch Ratings said it revised the outlook on Indian Railway Finance Corp. Ltd.'s long-term local-currency issuer default rating to negative from stable, and affirmed it at BBB-. The agency also affirmed its long-term foreign-currency issuer default rating at BBB-, national long-term rating at AAA(ind) and national short-term rating at F1+(ind).

This action follows Fitch's outlook revision for India's long-term local-currency issuer default rating on July 15.

The ratings are linked to that of the sovereign on account of the strong support that it receives from the government of India, the agency said.

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