AM Best has upgraded Milli Reasurans' (Milli Re) Financial Strength Rating (FSR) to 'C++' (Marginal) from 'C+' (Marginal) and Long-Term Issuer Credit Rating (Long-Term ICR) to 'b' (Marginal) from 'b-' (Marginal). Concurrently, AM Best has revised the outlook for the Long-Term ICR to 'Positive'. The outlook for the FSR is 'Stable'.