New Delhi, Sept. 19 -- Japan's Rating and Investment Information Inc (R&I) today upgraded India's long-term sovereign credit rating to 'BBB positive' from 'BBB' while retaining 'Stable' Outlook for the Indian economy. India welcomed the decision and said the move underscores global confidence in India's medium-term prospects amid prevailing global uncertainties.
'BBB (positive)' 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 (Positive) sign in a rating indicates strong position within that specific category while a 'BBB' rating suggest only an adequate, or moderate, capacity to meet financial commitments.
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