What does US rating agency's 'BBB-' rating & 'stable' outlook mean for India?

US ratings agency Fitch affirmed India's sovereign credit rating at 'BBB-' with a 'stable' outlook. The 'BBB-' investment grade means Fitch considers India a credible borrower that has meaningful risks, while the 'stable' outlook means it doesn't feel it'll need to change its rating for India anytime soon. The ratings indicate how cheaply India can borrow money from international banks.