Fitch stabilizes Indian issuer view

Fitch Ratings said it revised the outlooks to stable from negative for five Indian government-related entities and affirmed their BBB- issuer default ratings.

The companies are Power Finance Corp. Ltd., Indian Railway Finance Corp. Ltd., Indian Renewable Energy Development Agency Ltd., REC Ltd. and Housing and Urban Development Corp. Ltd.

The outlook revision and affirmation follow a similar action on India’s sovereign rating on June 10, Fitch said.

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