Q. Consider the following statements:
1. Credit ratings map the probability of default and therefore reflect the willingness and ability of borrower to meet its obligations.
2. India in last two decades never awarded A+ or A grade by international credit rating agencies.
3. At present India has the Investment grade.
Which of the statements given above is/are correct? 
Answer: D
Notes:
Credit ratings map the probability of default and therefore reflect the willingness and ability of borrower to meet its obligations.
- India’s willingness to pay is unquestionably demonstrated through its zero sovereign default history.
- During most of the 1990s and mid 2000s, India’s sovereign credit rating was speculative grade.
- India’s credit rating was upgraded to investment grade by Moody’s in 2004, Fitch in 2006 and S&P in 2007.
Source: Economic Survey 2021
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