Global agency DBRS Morningstar assigns BBB sovereign ratings to India

Global rating agency DBRS Inc (DBRS Morningstar) on Friday said it has assigned a 'BBB' sovereign credit rating to India.

As per the rating terminology, A BBB rating means that "the capacity for the payment of financial obligations is considered acceptable. May be vulnerable to future events".

"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," it said in a statement.

The rating agency said even before the coronavirus outbreak, the Indian economy