NEW DELHI, Aug. 14 -- S&P Global Ratings on Thursday raised India's long-term sovereign credit rating to BBB from BBB-, citing stronger macroeconomic fundamentals, including economic resilience, sustained fiscal consolidation, and a policy environment conducive to controlling inflation.

The upgrade moves India one notch higher within the investment-grade category, a shift that could lower borrowing costs and lift investor sentiment.

S&P said continued reforms, fiscal discipline, and infrastructure investment could further strengthen the credit profile in the years ahead.

"The stable outlook reflects our view that continued policy stability and high infrastructure investment will support India's long-term growth prospects," S&P said in ...