New Delhi: Another global rating agency Fitch today lowered India’s credit rating outlook to negative, citing corruption, inadequate reforms, high inflation and slow growth as reasons for the revision.

India faces an “awkward combination” of slow growth and elevated inflation, Fitch said, adding the country “also faces structural challenges surrounding its investment climate in the form of corruption and inadequate economic reforms”.

Standard and Poor’s (S&P) had in April lowered India’s rating outlook to negative from stable.