Rating Report

DBRS Morningstar Downgrades India to BBB (low); Trend Changed to Stable

Sovereigns

Summary

DBRS, Inc. (DBRS Morningstar) downgraded the Republic of India’s Long-Term Foreign and Local Currency – Issuer Ratings to BBB (low) from BBB. At the same time, DBRS Morningstar downgraded the Republic of India’s Short-Term Foreign and Local Currency – Issuer Ratings to R-2 (middle) from R-2 (high). The trend on all ratings has been changed to Stable from Negative.

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