Find enclosed link which map short term rating to long term rating. As per the link, A3 and A3+ both are falling in long term rating of BBB, which is just a borderline investment grade rating. In fact, in my opinion, it is very delicate credit profile based on proposed rating. What best we can say it has improved marginally from borderline but still on long path of strong credit.
http://www.icra.in/Files/Content/mapping.pdf
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