India gets upgraded to ‘BBB’ with a ‘Stable’ trend in rating by Morningstar DBRS

Global credit rating agency Morningstar DBRS has upgraded Indias Long-Term Foreign and Local Currency Issuer Ratings from BBB (low) to BBB, and its Short-Term Ratings from R-2 (middle) to R-2 (high), both with a Stable outlook. The upgrade reflects Indias structural reforms, sustained high GDP growth (averaging 8.2% during FY22–25), fiscal consolidation, macroeconomic stability, and a resilient banking sector with strong capital buffers and low NPAs.