Moody's withdraws IDBI Bank's credit ratings for business reasons

Global credit rating agency Moody's Investors Service on Monday said it has withdrawn IDBI Bank Ltd's ratings for business reasons

Bs_logoMoody's withdraws IDBI Bank's credit ratings for business reasons
Moody's withdraws IDBI Bank's credit ratings for business reasons. Photo: Shutterstock
IANS Chennai
1 min read Last Updated : Jan 30 2023 | 2:50 PM IST

Global credit rating agency Moody's Investors Service on Monday said it has withdrawn IDBI Bank Ltd's ratings for business reasons.

According to Moody's, it has withdrawn the Ba1/NP long-term (LT) and short-term (ST) local and foreign currency counterparty risk ratings (CRR), Ba2/NP LT and ST local and foreign currency bank deposit ratings, Ba2 foreign currency senior unsecured rating, Ba1(cr)/NP(cr) LT and ST counterparty risk assessments (CRA), and b1 baseline credit assessment (BCA) and adjusted BCA.

The stable outlook on the long-term bank deposit and senior unsecured ratings was also withdrawn.

Moody's has also withdrawn IDBI Bank Ltd, DIFC Branch's Ba1/NP LT and ST local and foreign CRRs and Ba1(cr)/NP(cr) LT and ST CRAs.

The stable rating outlook was also withdrawn.

--IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Topics :Moody’s Investors Service upgradeIDBI Bank dealfinance sector

First Published: Jan 30 2023 | 2:50 PM IST