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

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.