Bank of Baroda slides 3.5% as Moody's downgrades baseline credit assessment

The agency cited the lender's deteriorating asset quality as a threat to its profitability and capital.

Shares of Bank of Baroda slipped 3.5 per cent to Rs 70.70 on the BSE on Thursday after global rating agency Moody's downgraded the bank's baseline credit assessment (BCA) from “ba2” to “ba3” on weakening asset quality and further risks from the deteriorating operating environment in India.

At 10:31 am, the stock was trading 1.64 per cent lower at Rs 72.10. In comparison, the headline S&P BSE Sensex was ruling 0.35 per cent higher at 38,540.12. Over 1.18 crore shares have changed hands on the counter on NSE and BSE till the time of writing of this report.

The agency cited the