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Global agency assigns BBB sovereign ratings to India

Global agency assigns BBB sovereign ratings to India

Published:23 May 2020

Global rating agency DBRS Inc (DBRS Morningstar) on Friday said it has assigned a 'BBB' sovereign credit rating to India. A BBB rating denotes adequate credit quality.

New Delhi :Global rating agency DBRS Inc (DBRS Morningstar) on Friday said it has assigned a 'BBB' sovereign credit rating to India. A BBB rating denotes adequate credit quality. 


As per the ratings terminology, A BBB rating means that "the capacity for the payment of financial obligations is considered acceptable. May be vulnerable to future events".


"The assignment of the BBB rating to the Republic of India is supported by DBRS Morningstar's assessment that structural factors of the Indian economy – relatively high domestic savings and favorable demographics – underpin the country's growth potential," it said in a statement.


The rating agency said even before the coronavirus outbreak, the Indian economy was experiencing a slowdown with GDP growth declining to a projected 4.9 per cent in 2019-20 fiscal, its slowest pace in the last decade.


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