India Rating: India Credit Rating

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Rating Moody's India
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2025-09-29(Stable)
2023-08-18Baa3 (Stable)
2021-10-05Baa3 (Stable)
2020-06-01Baa3 (Negative)
2019-11-07Baa2 (Negative)
2017-11-16Baa2 (Stable)
2016-11-16Baa3 (Positive)
2015-04-09Baa3 (Positive)
2011-12-20(Stable)
2009-12-15(Stable)
2006-05-04(Stable)2023-08-18Baa3
2004-01-22Baa3 (Stable)2021-10-05Baa32023-08-18P-3
2003-11-15(Under Review)2020-06-01Baa32021-10-05P-3
2003-02-03Ba12019-11-07Baa22020-06-01P-3
1998-06-19Ba22017-11-16Baa22019-11-07P-2
1994-12-01Baa32016-11-16Baa32017-11-16P-2
1991-06-24Ba22015-04-09Baa32016-11-16P-3
1991-03-26Baa32011-12-20Baa32015-04-09P-3
1990-10-04Baa12010-07-26Ba12011-12-20P-3
1988-01-28A21998-06-19Ba21998-06-19NP
Moody's: Long term Rating
Rating S&P India
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2025-08-14BBB (Stable)
2024-05-29BBB- (Positive)
2014-09-26(Stable)
2012-04-25(Negative)2025-08-14BBB
2010-03-18(Stable)2024-05-29BBB-2025-08-14A-22025-08-14A-2
2007-01-30BBB-2007-01-30BBB-2007-01-30A-32007-01-30A-3
S&P: Long term Rating
Rating Fitch India
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2019-12-20BBB-2019-12-20BBB-2019-12-20F3
2019-04-04BBB-2019-04-04BBB-2019-04-04F3
2018-11-15BBB-2018-11-15BBB-2018-11-15F3
2018-04-27BBB- (Stable)2018-04-27BBB-2018-04-27F3
2017-05-02BBB- (Stable)2017-05-02BBB-2017-05-02F3
2016-07-22BBB- (Stable)2016-07-22BBB-2016-07-22F3
2015-12-07BBB- (Stable)2015-12-07BBB-2015-12-07F3
2015-04-09BBB-2015-04-09BBB-2015-04-09F3
2014-08-05BBB- (Stable)2014-08-05BBB-2014-08-05F3
2014-06-27BBB- (Stable)2014-06-27BBB-2014-06-27F3
2014-06-10BBB- (Stable)2014-06-10BBB-2014-06-10F3
2014-05-22BBB- (Stable)2014-05-22BBB-2014-05-22F3
2014-05-15BBB- (Stable)2014-05-15BBB-2014-05-15F3
2014-04-29BBB- (Stable)2014-04-29BBB-2014-04-29F3
2014-04-11BBB- (Stable)2014-04-11BBB-2014-04-11F3
2014-03-04BBB- (Stable)2014-03-04BBB-2014-03-04F3
2014-01-16BBB- (Stable)2014-01-16BBB-2014-01-16F3
2013-12-30BBB- (Stable)2013-12-30BBB-2013-12-30F3
2013-12-12BBB- (Stable)2013-12-12BBB-2013-12-12F3
2013-08-30BBB- (Stable)2013-08-30BBB-2013-08-30F3
2013-06-12BBB- (Stable)2013-06-12BBB-2013-06-12F3
2013-06-07BBB- (Negative)2013-06-07BBB-2013-06-07F3
2012-10-04BBB- (Negative)2012-10-04BBB-2012-10-04F3
2012-07-13BBB- (Negative)2012-07-13BBB-2012-07-13F3
2011-12-12BBB- (Stable)2011-12-12BBB-2011-12-12F3
2011-06-21BBB- (Stable)2011-06-21BBB-2011-06-21F3
2010-06-14BBB- (Stable)2010-06-14BBB-2010-06-14F3
2008-07-15BBB- (Stable)2008-07-15BBB-2008-07-15F3
2006-08-01BBB- (Stable)2006-08-01BBB-2006-08-01F3
2004-01-21BB+ (Stable)2004-01-21BB+2004-01-21B
2001-11-22BB (Stable)2001-11-22BB+2001-11-22B2019-12-20F3
2001-05-31BB+ (Negative)2001-05-31BBB-2001-05-31B2019-04-04F3
2000-09-21BB+ (Stable)2000-09-21BBB-2000-09-21B2018-11-15F3
2000-03-08BB+2000-03-08BBB-2000-03-08B2018-04-27F3
Fitch: Long term Rating

See also>
GradeMoody'sS&PFitch
PrimeAaaAAAAAA
High gradeAa1AA+AA+
Aa2AAAA
Aa3AA-AA-
Upper medium gradeA1A+A+
A2AA
A3A-A-
Lower medium gradeBaa1BBB+BBB+
Baa2BBBBBB
Baa3BBB-BBB-
Non-investment grade
speculative		Ba1BB+BB+
Ba2BBBB
Ba3BB-BB-
Highly speculativeB1B+B+
B2BB
B3B-B-
Substantial risksCaa1CCC+CCC+
Caa2CCCCCC
Caa3CCC-CCC-
Extremely speculativeCaCCCC
C
In default with little
prospect for recovery		SDRD
In defaultCDD
DD
DDD
Not ratedWRNR
GradeMoodysS&PFitch
High gradeP-1A-1+F1+
Upper medium gradeP-1A-1F1
Lower medium gradeP-2A-2F2
Non-investment grade
speculative		P-3A-3F3
Highly speculativeBB
Extremely speculativeNPCC