EconomyMonday, 14 September 2026·The Hindu - Economy
JCR upgrades India’s sovereign rating to A- in September 2026; key implications for borrowing
Japan Credit Rating Agency upgraded India from BBB+ to A- in September 2026, citing growth, policy support, and a stronger financial system.
Key highlights
Direct fact
In September 2026, the Japan Credit Rating Agency (JCR) upgraded India’s long-term foreign currency and local currency issuer ratings by one notch from BBB+ to A-, citing around 7% growth, policy support, and a stronger financial system.
Key specifics
- JCR also raised India’s country ceiling by one notch to A.
- The agency said India’s economy has maintained growth of around 7%.
- It noted banking sector non-performing assets had fallen to below 2%.
- JCR cited the Insolvency and Bankruptcy Code and RBI supervision as supporting factors.
- The Finance Ministry said the upgrade came amid a challenging global environment.
Exam lens
MCQ focus: sovereign credit rating, rating symbols, NPA ratio, IBC, RBI supervision; TNPSC may ask which agency upgraded India, from which rating to which rating, and why ratings matter for borrowing costs.