Punjab National Bank (PNB) announced that Fitch Ratings vide its rating action dated 22 November 2021 has affirmed PNB's Long-Term Issuer Default Rating (IDR) at 'BBB-', with a Negative Outlook. The Agency has also affirmed the Bank's Viability Rating (VR) at 'b' and has assigned the Bank a Government Support Rating (GSR) of lobb-', which drives the IDR.
Fitch Ratings has withdrawn Support Rating and Support Rating as per its updated Bank
Rating Criteria.
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