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Axis Bank recieves revision in credit ratings from Fitch Ratings

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Capital Market
Last Updated : May 02 2020 | 12:04 PM IST
Axis Bank announced that Fitch Ratings have on 30 April 2020, affirmed the Bank's Long-Term Issuer Default Rating (IDR) at 'BB+', with a Stable Outlook. Fitch Ratings has downgraded the Bank's Viability Rating to 'bb' from 'bb+'.

The rating action are driven by rapid deterioration in the operating environment for banks in India following the caronavirus pandemic and measures to contain their spread.

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First Published: May 02 2020 | 11:45 AM IST

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