Economy & Bankingv1 · 1 version
India's Sovereign Credit Ratings
A sovereign credit rating is an agency's judgment on how reliably a government will repay what it borrows, and it sets the benchmark cost of that borrowing. On 2 September 2026 the Japan Credit Rating Agency lifted India one step, to A- from BBB+, with a stable outlook — the first move out of the BBB band recorded on this card. S&P Global Ratings and Fitch had each affirmed India at investment grade a month earlier.
Last updated 2 September 20264 min read
Latest update
The Japan Credit Rating Agency has upgraded India to A- from BBB+ with a stable outlook, lifting the country ceiling to A, on the strength of steady growth, digital public infrastructure and the GST, and a gross non-performing loan ratio of 1.8 percent.
- sovereign rating
- credit rating agency
- Japan Credit Rating Agency
- investment grade
- country ceiling
- non-performing loans
- S&P Global Ratings
- Fitch
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