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      Question

      Which Japanese rating agency upgraded India’s

      sovereign rating to BBB+ (Stable) in 2025?
      A Moody’s Correct Answer Incorrect Answer
      B S&P Correct Answer Incorrect Answer
      C Fitch Correct Answer Incorrect Answer
      D Rating and Investment Information, Inc. (R&I) Correct Answer Incorrect Answer
      E Morningstar DBRS Correct Answer Incorrect Answer

      Solution

      In 2025, Japan’s Rating and Investment Information, Inc. (R&I) upgraded India’s long-term sovereign rating from BBB to BBB+ with a Stable Outlook. This was the third such upgrade that year, after similar moves by S&P and Morningstar DBRS. The upgrade highlights India’s fiscal progress, strong domestic demand, and external stability.

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