S&P Global Ratings has upgraded its jurisdiction ranking assessment for India’s insolvency regime, citing a more creditor-friendly framework under the Insolvency and Bankruptcy Code (IBC). The global rating agency moved India to Group B from Group C, reflecting an improvement in the country’s bankruptcy resolution system. S&P cites stronger creditor-friendliness for upgrade S&P said the IBC has improved credit discipline and tilted the resolution process in favour of creditors, with promoters potentially risking losing control of their business, unlike under earlier resolution regimes. It noted that promoters now risk losing control of their companies if they fail to resolve dues, a sharp departure from earlier mechanisms.