<h1>Global agency affirms sovereign BBB- stable, cites strong growth, 6.5% GDP forecast, warns tariffs risk but GST reforms may help</h1> A global rating agency affirmed the country's sovereign credit rating at 'BBB-' with a stable outlook, citing robust growth, solid external finances and a 6.5% GDP forecast for the fiscal year, above the 'BBB' median. The agency warned that proposed 50% US tariffs present a moderate downside risk but said proposed goods and services tax reforms-including a two-tier 5% and 18% structure and a 40% rate for select items replacing current 12% and 28% slabs-could bolster consumption and offset some risks. Fiscal deficits, public debt levels and lagging structural metrics were identified as key credit constraints.