India - Credit Rating

Standard & Poor's credit rating for India stands at BBB- with positive outlook. Moody's credit rating for India was last set at Baa3 with stable outlook. DBRS' credit rating for India was last reported at BBB (low) with positive outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of India thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for India as reported by major credit rating agencies.

Agency	Rating	Outlook	Date
S&P	BBB-	Positive	May 29 2024
DBRS	BBB (low)	Positive	May 14 2024
Moody's	Baa3	Stable	Oct 05 2021
DBRS	BBB (low)	Stable	May 19 2021
Moody's	Baa3	Negative	Jun 01 2020
DBRS	BBB	Negative	May 21 2020
Moody's	Baa2	Negative	Nov 07 2019
Moody's	Baa2	Stable	Nov 16 2017
DBRS	BBB	Stable	Nov 05 2015
Moody's	Baa3	Positive	Apr 09 2015
DBRS	BBB (low)	Positive	Nov 05 2014
S&P	BBB-	Stable	Sep 26 2014
DBRS	BBB(low)	Stable	Sep 30 2013
S&P	BBB-	Negative	Apr 25 2012
DBRS	BBB (low)	Stable	Jun 23 2011
S&P	BBB-	Stable	Mar 18 2010
DBRS	BBB (low)	Negative	Oct 13 2009
S&P	BBB-	Negative	Feb 24 2009
DBRS	BBB (low)	Stable	Jun 26 2007
S&P	BBB-	Stable	Jan 30 2007
S&P	BB+	Positive	Apr 19 2006
S&P	BB+	Stable	Feb 02 2005
S&P	BB	Positive	Aug 23 2004
Moody's	Baa3	Stable	Jan 22 2004
S&P	BB	Stable	Dec 16 2003
Moody's	Ba1	Positive Watch	Oct 16 2003
Moody's	Ba1	Stable	Feb 03 2003
Moody's	Ba2	Positive Watch	Nov 14 2002
Moody's	Ba2	Stable	Aug 08 2001
S&P	BB	Negative	Aug 07 2001
S&P	BB	Stable	Oct 10 2000
S&P	BB	Positive	Mar 20 2000
Moody's	Ba2	Positive	Oct 06 1999
S&P	BB	Stable	Oct 22 1998
Moody's	Ba2	Stable	Jun 19 1998
S&P	BB+	Negative	May 22 1998
Moody's	Baa3	Negative Watch	Jan 08 1998
S&P	BB+	Stable	Oct 06 1997
S&P	BB+	Positive	Oct 01 1996
Moody's	Baa3	Stable	Dec 01 1994
Moody's	Ba2	Positive Watch	Sep 14 1994
S&P	BB+	Stable	Sep 29 1991
Moody's	Ba2	Stable	Jun 24 1991
S&P	BB+	N/A	May 29 1991
Moody's	Baa3	Stable	Mar 26 1991
S&P	BBB-	Negative Watch	Mar 07 1991
Moody's	Baa1	Stable	Oct 04 1990
S&P	BBB	Stable	Sep 13 1990
Moody's	A2	Stable	Jan 28 1988