HDFC Bank’s credit rating was upgraded by S&P to BBB/Stable/A‑2 after India’s sovereign uplift in 2025.

• The previous rating was BBB‑/Positive/A‑3, now improved to BBB/Stable/A‑2, reflecting a stronger outlook for the bank overall.
• S&P’s upgrade aligns with India’s sovereign rating reaching BBB/Stable, supporting the domestic financial sector and growth.
• Standalone credit profile stays unchanged at “a”, indicating consistent internal financial strength and resilience ahead.