By Moody's Investor Service
Union Bank of India announced that Moody's Investor Service has assigned Counterparty Risk Ratings (CRRs) to the Bank as under -
Local currency long term CRR - Baa3
Local currency short term CRR - P-3
Given the stable ratings outlook, Union Bank of India's ratings are unlikely to face upward pressure over the next 12-18 months. Nevertheless, Moody's could revise the ratings outlook to positive if the bank returns to profitability on a sustained basis, which will help in internal capital generation.
Moody's could downgrade Union Bank's BCA and ratings if further credit losses worsen its capital position. Any indication that government support for the bank has diminished could also lead to a downgrade of the bank's ratings.
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