Allaying concerns of any impact on India's sovereign ratings due to RBI Governor Raghuram Rajan's decision against a second term, leading global rating agency Fitch on Monday said "policies are more important than personalities" on this front. The leading credit rating agency said it recognises Rajan's contribution in setting significant policy changes in motion and said the new Governor will inherit a solid base. "From a rating perspective, policies are more important than personalities," said Thomas Rookmaaker, Director in Fitch's Asia-Pacific Sovereigns Group. "The problems associated with both high inflation and weak bank balance sheets have been recognised, and policymakers are doing something about it, including through the set-up of new policy frameworks. "Such institutionalisation implies support for these policies beyond the Governor, and also among government officials and broader within the RBI," Rookmaaker said. For India, Fitch Ratings has 'BBB-' rating; the lowest investment grade rating just a notch above junk grade with a stable outlook and has forecast 8 per cent GDP growth for 2016-17.