India - Credit Rating

Standard & Poor's credit rating for India stands at BBB- with stable outlook. Moody's credit rating for India was last set at Baa3 with stable outlook. Fitch's credit rating for India was last reported at BBB- with stable outlook. DBRS's credit rating for India is BBB (low) with stable 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
Fitch	BBB-	Stable	Jun 10 2022
Moody's	Baa3	Stable	Oct 05 2021
DBRS	BBB (low)	Stable	May 19 2021
Fitch	BBB-	Negative	Jun 18 2020
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
Fitch	BBB-	Stable	Jun 12 2013
Fitch	BBB-	Negative	Jun 18 2012
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
Fitch	BBB-	Stable	Aug 01 2006
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
Fitch	BB+	Stable	Jan 21 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
Fitch	BB	Stable	Nov 22 2001
Moody's	Ba2	Stable	Aug 08 2001
S&P	BB	Negative	Aug 07 2001
Fitch	BB+	Negative	May 31 2001
S&P	BB	Stable	Oct 10 2000
Fitch	BB+	Stable	Sep 21 2000
S&P	BB	Positive	Mar 20 2000
Fitch	BB+	N/A	Mar 08 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