Ratings by The Big Three : India’s Rating marked in yellow colour.

India’s position in leading credit rating
India’s (sovereign) credit rating has remained unchanged for the past several years at ‘BBB (-)’ – or the lowest investment grade, which is only a grade above “junk” status for government/sovereign bonds.

The Big Three agencies
"Big Three" credit rating agencies controlling approximately 95% of the ratings business. Moody's Investors Service and Standard & Poor's (S&P) together control 80% of the global market, and Fitch Ratings controls a further 15%.

Ratings are based on the lending risks or estimation of the borrower’s ability to repay its debt and the likelihood of them defaulting.