New Delhi, Sept. 19 -- India today welcomed the decision by Japanese credit rating agency Rating and Investment Information, Inc. (R&I) to upgrade India's long-term sovereign credit rating to 'BBB ' (positive) from 'BBB' while retaining the stable outlook for the Indian economy, the Finance Ministry said.
'BBB ' is a higher credit rating than 'BBB', indicating a greater capacity to meet financial commitments and a lower risk of default for an obligor, such as the government or company.
The R&I sovereign credit rating report released today said a ratings upgrade is supported by India's position as one of the world's largest and fast-growing economies, underpinned by its demographic dividend, robust domestic demand, and sound government pol...