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 | Baa3 | - | 5 Oct 2021 | outlook upgrade |
| Fitch Ratings | BBB- | - | 10 Jun 2022 | outlook upgrade |
| DBRS | BBB (low) | - | 20 May 2021 | rating downgrade |
India: Long-term Rating Scales Comparison
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
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| Grade | Description | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|---|
|
Investment Grade |
Prime |
AAA
|
Aaa
|
AAA
|
AAA
|
| High Medium Grade |
AA+
|
Aa1
|
AA+
|
AA(high)
|
|
|
AA
|
Aa2
|
AA
|
AA
|
||
|
AA-
|
Aa3
|
AA-
|
AA(low)
|
||
| Upper Medium Grade |
A+
|
A1
|
A+
|
A(high)
|
|
|
A
|
A2
|
A
|
A
|
||
|
A-
|
A3
|
A-
|
A(low)
|
||
| Lower Medium Grade |
BBB+
|
Baa1
|
BBB+
|
BBB(high)
|
|
|
BBB
|
Baa2
|
BBB
|
BBB
|
||
|
BBB-
|
Baa3
|
BBB-
|
BBB(low)
|
||
|
Speculative Grade |
Speculative |
BB+
|
Ba1
|
BB+
|
BB(high)
|
|
BB
|
Ba2
|
BB
|
BB
|
||
|
BB-
|
Ba3
|
BB-
|
BB(low)
|
||
| Highly Speculative |
B+
|
B1
|
B+
|
B(high)
|
|
|
B
|
B2
|
B
|
B
|
||
|
B-
|
B3
|
B-
|
B(low)
|
||
| Substantial Risk |
CCC+
|
Caa1
|
CCC+
|
CCC(high)
|
|
|
CCC
|
Caa2
|
CCC
|
CCC
|
||
|
CCC-
|
Caa3
|
CCC-
|
CCC(low)
|
||
| Extremely Speculative |
CC
|
Ca
|
CC
|
CC
|
|
|
C
|
C
|
C
|
C
|
||
| In Default |
RD
|
/
|
RD
|
RD
|
|
|
SD
|
/
|
SD
|
SD
|
||
|
D•NR
|
D•NR
|
D•NR
|
D•NR
|
||
India Credit Ratings historical data
Timetable of India credit ratings by S&P, Moody's, Fitch and DBRS agencies.
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
Swipe left to see all data
| Date | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|
| 10 Jun 2022 | BBB- | |||
| 5 Oct 2021 | Baa3 | |||
| 20 May 2021 | BBB (low) | |||
| 18 Jun 2020 | BBB- | |||
| 1 Jun 2020 | Baa3 | |||
| 22 May 2020 | BBB | |||
| 8 Nov 2019 | Baa2 | |||
| 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 |
