Global credit rating giant, S&P Global Ratings, on Friday, 15 August 2025, upgraded the long-term issuer credit ratings for seven Indian banks and three financial institutions, one day after increasing India’s sovereign credit rating, reported the news agency PTI.State Bank of India, ICICI Bank, HDFC Bank, Axis Bank Ltd, Kotak Mahindra Bank, Union Bank of India, and Indian Bank are the seven Indian banks whose credit ratings were upgraded by S&P Global. Also Read | S&P Global upgrades India’ rating to BBB, amid Trump’s 50% tariffsAccording to the agency report, Bajaj Finance, Tata Capital, and L&T Finance were the three finance companies which also received a credit rating upgrade on Friday.“India’s financial institutions will continue to ride the country’s good economic growth momentum. These entities will benefit from their domestic focus and structural improvements in the system, such as in the recovery of bad loans,” said S&P Global, cited by the news agency.S&P Global’s expectations for banksS&P Global expects that Indian banks will maintain adequate asset quality, good profitability, and enhanced capitalisation over the next one to two years. Also Read | India’s manufacturing sector is gaining global traction, says S&P Global“We expect India’s banks to maintain adequate asset quality, good profitability, and enhanced capitalisation over the next 12-24 months. This is despite some pockets of stress,” said the ratings agency, highlighting that the credit risk in the system has reduced.India’s credit rating upgradeAccording to the agency report, S&P Global on Thursday, 14 August 2025, upgraded India’s credit rating to ‘BBB’ after more than 18 years, as it expects India’s sound economic fundamentals to underpin growth momentum over the next two to three years.The company also said monetary policy settings have become increasingly conducive to managing inflationary expectations. Also Read | S&P upgrades Vedanta Resources ratings to ‘B+’ over easing refinancing risksOur sovereign rating on India caps the ratings on many Indian financial institutions. This is due to the sovereign’s direct and indirect influence on financial institutions operating in the country, said S&P, according to the news report.It also said that the Insolvency and Bankruptcy Code (IBC) has improved the payment culture and rule of law in India. The code, introduced in 2016, has tilted the balance in favour of the creditors. It has also promoted a credit culture that encourages restructuring of going-concern entities.On Thursday, S&P Global Ratings also raised the credit ratings on Oil and Natural Gas Corp. Ltd. (ONGC), Power Grid Corp. of India Ltd., NTPC Ltd., and Tata Power Co. Ltd. to ‘BBB’ from ‘BBB—’. The outlook is stable.S&P Global Ratings also raised its long-term issuer credit ratings on the Export-Import Bank of India (India Exim) and Indian Railway Finance Corp. (IRFC) to ‘BBB’ from ‘BBB-‘. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. 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S&P Global has improved the credit ratings of several financial institutions, including SBI, HDFC Bank, and Tata Capital, as part of a broader upgrade affecting 10 organizations.
