Moody's upgrades IndusInd to 'stable' outlook, affirms long-term ratings

The lender's asset quality slipped marginally in the economic disruption caused by the Covid-19 pandemic, says agency.

Moody's has upgraded its outlook for Indusind Bank from "negative" to "stable", citing the Indian private lender’s improvement in funding and capital. The bank’s asset quality slipped marginally in the economic disruption caused by the Covid-19 pandemic.

The rating agency affirmed the long-term local and foreign currency deposit ratings of IndusInd Bank at Ba1 and its baseline credit assessment (BCA) and adjusted BCA at ba2.

The affirmation of the BCA and the deposit ratings factors in the bank's strong capital and core profitability, as well as a relatively modest funding.

Despite the economic disruption asset quality deterioration was moderate. This