India Credit Ratings & Outlooks

País
Moody's
S&P
Fitch
DBRS
Scope Ratings
India
Baa3
Stable
BBB
Stable
BBB-
Stable
BBB
Stable
NR

Historia del Rating Crediticio.

País
Date of Change
Agencia de Rating
Rating Anterior
Pronóstico Anterior
Rating Actual
Current Outlook
India
ago. 14, 2025S&PBBB-PositiveBBBStable
India
may. 08, 2025DBRSBBB (low)PositiveBBBStable
India
may. 29, 2024S&PBBB-StableBBB-Positive
India
may. 14, 2024DBRSBBB (low)StableBBB (low)Positive
India
jun. 10, 2022FitchBBB-NegativeBBB-Stable
India
oct. 05, 2021Moody'sBaa3NegativeBaa3Stable
India
may. 19, 2021DBRSBBBNegativeBBB (low)Stable
India
jun. 18, 2020FitchBBB-StableBBB-Negative
India
jun. 01, 2020Moody'sBaa2NegativeBaa3Negative
India
may. 21, 2020DBRSBBBStableBBBNegative
India
nov. 07, 2019Moody'sBaa2StableBaa2Negative
India
nov. 16, 2017Moody'sBaa3PositiveBaa2Stable
India
nov. 05, 2015DBRSBBB (low)PositiveBBBStable
India
abr. 09, 2015Moody'sBaa3StableBaa3Positive
India
nov. 05, 2014DBRSBBB(low)StableBBB (low)Positive
India
sep. 26, 2014S&PBBB-NegativeBBB-Stable
India
sep. 30, 2013DBRSBBB (low)StableBBB(low)Stable
India
jun. 12, 2013FitchBBB-NegativeBBB-Stable
India
jun. 18, 2012FitchBBB-StableBBB-Negative
India
abr. 25, 2012S&PBBB-StableBBB-Negative

Tabla de Claves

GradoMoody'sS&PFitchDBRSScope Ratings
Principal
Aaa
AAA
AAA
AAA
AAA
Grado Alto
Aa1
AA+
AA+
AA (high)
AA+
Aa2
AA
AA
AA
AA
Aa3
AA-
AA-
AA (low)
AA-
Grado Medio Superior
A1
A+
A+
A (high)
A+
A2
A
A
A
A
A3
A-
A-
A (low)
A-
Grado Medio Inferior
Baa1
BBB+
BBB+
BBB (high)
BBB+
Baa2
BBB
BBB
BBB
BBB
Baa3
BBB-
BBB-
BBB (low)
BBB-
Grado de No Inversión Especulativo
Ba1
BB+
BB+
BB (high)
BB+
Ba2
BB
BB
BB
BB
Ba3
BB-
BB-
BB (low)
BB-
Highly Speculative Grade
B1
B+
B+
B (high)
B+
B2
B
B
B
B
B3
B-
B-
B (low)
B-
Substantial Risk Grade
Caa1
CCC+
CCC+
CCC
Caa2
CCC
CCC
CCC
CCC
Caa3
CCC-
CCC-
CCC
Extremely Speculative Grade
Ca
CC
CC
CCC
CC
C
CCC
C
En Impago con Pocas Perspectivas de Recuperación
CD
RD
RD
En Impago
SD
SD
C
D
D
D
D
DD
DD
DDD
DDD
No Calificado.
NR
NR
NR
NR
NR
Preguntas frecuentes
India’s sovereign credit rating reflects its government’s ability and willingness to meet debt obligations. It is assigned by major agencies such as S&P, Moody’s, Fitch, DBRS, and Scope, and represents how international markets view India’s credit risk.
This page lists the latest rating and outlook actions for India, showing when each agency last reviewed or changed its assessment.
Ratings directly affect borrowing costs, investor confidence, and market access. Changes can influence India's bond yields, currency, and equity flows as investors reassess risk.
You can explore how India ranks globally using our Credit Ratings Hub, which displays all countries’ ratings from S&P, Moody’s, Fitch, DBRS, and Scope.
They indicate the expected direction of a rating. Positive signals a possible upgrade, Stable means no change is likely, and Negative points to potential downgrade risk
Investment grade (BBB−/Baa3 or higher) means relatively low risk and steady market access. A speculative grade (BB+/Ba1 or lower) signals higher risk and volatility, but can attract yield-seeking investors.
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