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<h1>Sovereign credit rating upgrade signals improved investment grade standing contingent on continued reforms and fiscal consolidation.</h1> Morningstar DBRS upgraded India's Long Term Foreign and Local Currency Issuer Ratings to BBB with a Stable trend and short term ratings to R 2 (high), citing structural reforms, fiscal consolidation, sustained growth, macroeconomic stability, and a resilient, well capitalised banking system as key drivers; further upgrades depend on continued reforms that raise investment rates and reduce the public debt to GDP ratio, while debt sustainability is supported by local currency denomination and long maturities.