Fitch's downgrade not worrisome: FM

Finance minister downplayed the lowering of India's credit outlook by global rating agency Fitch, saying it is not a cause of worry as economic fundamentals are strong.

http://economictimes.indiatimes.com/News/Economy/Finance/Fitchs_downgrade_not_worrisome_FM/rssarticleshow/3252443.cms

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Thanks to the rating agencies and their proprietary valuation models. They have caused enough problems for the US credit market.
Everyones being conservative now.

The issuer of the security pay the rating agency for a grade.
Looks more like the investors paid for it eventually.

Sent on my BlackBerry® from Hutch