DBRS assigns India BBB

DBRS said it assigned long-term foreign- and local-currency issuer ratings of BBB to the Republic of India.

“The assignment of the BBB rating to the Republic of India is supported by DBRS Morningstar’s assessment that structural factors of the Indian economy – relatively high domestic savings and favorable demographics – underpin the country’s growth potential. Favorable growth and interest rate dynamics are likely to support sustainable public debt dynamics over the medium term. Exchange rate flexibility and a relatively low level of external debt also reduce external vulnerabilities,” DBRS said in a press release.

The agency assigned a negative trend.

“The negative trend reflects the high degree of uncertainty around the magnitude and duration of the coronavirus shock,” DBRS said.

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