Current India credit ratings, according to main rating agencies.

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Rating Agency Rating Outlook Last Update Action
Standard & Poor's BBB- - 26 Sep 2014 outlook upgrade
Moody's Investors Service Baa2 - 16 Nov 2017 rating upgrade
Fitch Ratings BBB- - 12 Jun 2013 outlook upgrade
DBRS BBB - 5 Nov 2015 rating upgrade

India Credit Ratings: Long-term Rating Scales Comparison

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Grade S&P Moody's Fitch DBRS Description
Investment AAA Aaa AAA AAA Prime
AA+ Aa1 AA+ AA(high) High Medium Grade
AA Aa2 AA AA
AA- Aa3 AA- AA(low)
A+ A1 A+ A(high) Upper Medium Grade
A A2 A A
A- A3 A- A(low)
BBB+ Baa1 BBB+ BBB(high) Lower Medium Grade
BBB Baa2 BBB BBB
BBB- Baa3 BBB- BBB(low)
Speculative BB+ Ba1 BB+ BB(high) Speculative
BB Ba2 BB BB
BB- Ba3 BB- BB(low)
B+ B1 B+ B(high) Highly Speculative
B B2 B B
B- B3 B- B(low)
CCC+ Caa1 CCC+ CCC(high) Substantial Risk
CCC Caa2 CCC CCC
CCC- Caa3 CCC- CCC(low)
CC Ca CC CC Extremely Speculative
C Ca C C
RD C RD RD In Default
SD / SD SD
D / D D

India Credit Ratings historical data

Agencies:

Timetable of India credit ratings by S&P, Moody's, Fitch and DBRS agencies.

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Date S&P Moody's Fitch DBRS
16 Nov 2017 Baa2
5 Nov 2015 BBB
9 Apr 2015 Baa3
5 Nov 2014 BBB (low)
26 Sep 2014 BBB-
30 Sep 2013 BBB(low)
12 Jun 2013 BBB-
18 Jun 2012 BBB-
25 Apr 2012 BBB-
23 Jun 2011 BBB (low)
18 Mar 2010 BBB-
13 Oct 2009 BBB (low)
24 Feb 2009 BBB-
26 Jun 2007 BBB (low)
30 Jan 2007 BBB-
1 Aug 2006 BBB-
19 Apr 2006 BB+
2 Feb 2005 BB+
23 Aug 2004 BB
22 Jan 2004 Baa3
21 Jan 2004 BB+
16 Dec 2003 BB
16 Oct 2003 Ba1
3 Feb 2003 Ba1
14 Nov 2002 Ba2
22 Nov 2001 BB
8 Aug 2001 Ba2
7 Aug 2001 BB
31 May 2001 BB+
10 Oct 2000 BB
20 Mar 2000 BB
8 Mar 2000 BB+
6 Oct 1999 Ba2
22 Oct 1998 BB
19 Jun 1998 Ba2
22 May 1998 BB+
8 Jan 1998 Baa3
6 Oct 1997 BB+
1 Oct 1996 BB+
1 Dec 1994 Baa3
14 Sep 1994 Ba2
24 Jun 1991 Ba2
29 May 1991 BB+
26 Mar 1991 Baa3
7 Mar 1991 BBB-
4 Oct 1990 Baa1
13 Sep 1990 BBB
28 Jan 1988 A2

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