Moody's ups banks' local currency ratings

 The specific ratings changes, according to the release issued by Moody's are as follows:

 Bank of Baroda - The BFSR is changed to D+ from D. The Global Local Currency Deposit Ratings assigned are A3/P-2. The Foreign Currency Deposit Rating is unchanged at Ba2.

 Bank of India - The BFSR is changed to D+ from D. The Global Local Currency Deposit Ratings assigned are A3/P-1. The Foreign Currency Deposit Rating is unchanged at Ba2. The Foreign Currency Bond Rating for senior, subordinated and junior subordinated (Upper Tier 2) obligations also is unchanged at Baa2. The Foreign Currency Bond Rating for perpetual non-cumulative subordinated obligations (Hybrid Tier 1) is unchanged at Baa3.

Canara Bank - The BFSR is changed to D+ from D. The Global Local Currency Deposit Ratings assigned are A2/P-1. The Foreign Currency Deposit Rating is unchanged at Ba2. The Foreign Currency Bond Rating for senior, subordinated and junior subordinated (Upper Tier 2) obligations also is unchanged at Baa2. The Foreign Currency Bond Rating for perpetual non-cumulative subordinated obligations (Hybrid Tier 1) is changed to Baa2 from Baa3.

Central Bank of India - The BFSR is changed to D- from E+. The Global Local Currency Deposit Ratings assigned are Baa2/P-2. The Foreign Currency Deposit Rating is unchanged at Ba2.

HDFC Bank Ltd - The BFSR is unchanged at C-. The Global Local Currency Deposit Ratings assigned are Baa1/P-2. The Foreign Currency Deposit Rating is unchanged at Ba2.

ICICI Bank Ltd - The BFSR is unchanged at C-. The Global Local Currency Deposit Ratings assigned A2/P-1. The Foreign Currency Deposit Rating is unchanged at Ba2. The Foreign Currency Bond Rating for senior, subordinated, junior subordinated (Upper Tier 2) and perpetual non-cumulative subordinated (Hybrid Tier 1) obligations also is unchanged at Baa2.

Industrial Development Bank of India Ltd - The BFSR is unchanged at D-. The Global Local Currency Deposit Ratings assigned are Baa2/P-2. The Foreign Currency Deposit Rating is unchanged at Ba2. The Foreign Currency Bond Rating for senior obligations also is unchanged at Baa2.

Oriental Bank of Commerce - The BFSR is changed to D+ from D. The Global Local Currency Deposit Ratings assigned are A3/P-1. The Foreign Currency Deposit Rating is unchanged at Ba2.

Punjab National Bank - The BFSR is changed to D+ from D. The Global Local Currency Deposit Ratings assigned are A2/P-1. The Foreign Currency Deposit Rating is unchanged at Ba2.

State Bank of India - The BFSR is changed to C- from D+. The Global Local Currency Deposit Rating is changed to A1 from A2. The Foreign Currency Deposit Rating is unchanged at Ba2. The Foreign Currency Bond Rating for senior, subordinated, junior subordinated (Upper Tier 2) and perpetual non-cumulative subordinated (Hybrid Tier 1) obligations also is unchanged at Baa2.

Union Bank of India - The BFSR is changed to D+ from D-. The Global Local Currency Deposit Ratings assigned are A3/P-1. The Foreign Currency Deposit Rating is unchanged at Ba2.

UTI Bank Ltd - The BFSR is changed to C- from D+. The Global Local Currency Deposit Ratings assigned are A3/P-1. The Foreign Currency Deposit Rating is unchanged at Ba2. The Foreign Currency Bond Rating for senior and subordinated obligations also is unchanged at Baa2. The Foreign Currency Bond Rating for junior subordinated obligations (Upper Tier 2) is changed to Baa2 from Baa3 and for perpetual  noncumulative subordinated obligations (Hybrid Tier 1) is changed to Baa2 from Ba1.

All ratings have a stable outlook in line with the outlook of the country deposit and debt ceilings, the release said.