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

Chennai, January 30, 2023 

Global credit rating agency Moody's Investors Service on Monday said it has withdrawn IDBI Bank Ltd's ratings for business reasons.

According to Moody's, it has withdrawn the Ba1/NP long-term (LT) and short-term (ST) local and foreign currency counterparty risk ratings (CRR), Ba2/NP LT and ST local and foreign currency bank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The stable outlook on the long-term bank deposit and senior unsecured ratings was also withdrawn.

Moody's has also withdrawn IDBI Bank Ltd, DIFC Branch's Ba1/NP LT and ST local and foreign CRRs and Ba1(cr)/NP(cr) LT and ST CRAs.

The stable rating outlook was also withdrawn.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]

*******