The sovereign credit rating for a country is a metric that describes its creditworthiness. Rating agencies seek to assess the level of risk associated with investing in the debt of a country. Naturally, countries are incentivised to improve their credit ratings, and consequently their attractiveness as investment destinations in international bond markets. Different rating agencies have different designations relating to a country's investment risk, but India's Moody's rating of 'Baa3' is considered ' investment grade ' i.e. associated with a relatively low risk of defaulting on any of its loans. Some commentators have warned though, that if India doesn't check its current economic trajectory, its rating is likely to be downgraded.