How Moody's rating upgrade is boosting confidence in Indian bond markets

India's sovereign rating upgrade by Moody's is a shot in the arm for Indian companies looking to raise funds in offshore bond markets.

Driven by more attractive rates and relatively strong economic fundamentals among emerging markets, offshore dollar borrowing by Indian companies has already risen 32 per cent from the start of 2017 to $8.81 billion, according to Reuters data.

The rating agency's decision on Friday to raise India's credit assessment for the first time in nearly 14 years to a notch higher than its rivals was perfect timing for billionaire Mukesh Ambani's Reliance Industries, which announced plans to raise $800 million