Adani Enterp. 2439.70↑5.75(0.24%)
Adani Ports 746.55↑7.75(1.05%)
Apollo Hospitals 4912.20↓-38.00(-0.77%)
Asian Paints 3203.75↑4.00(0.13%)
Axis Bank 965.50↑14.65(1.54%)
B P C L 355.60↓-1.20(-0.34%)
Bajaj Auto 4722.30↑12.25(0.26%)
Bajaj Finance 7084.00↑40.80(0.58%)
Bajaj Finserv 1472.15↑13.25(0.91%)
Bharti Airtel 828.40↓-6.10(-0.73%)
Britannia Inds. 4695.00↑12.40(0.26%)
Cipla 968.85↓-5.95(-0.61%)
Coal India 227.90↓-1.80(-0.78%)
Divi's Lab. 3504.00↑41.70(1.20%)
Dr Reddy's Labs 4630.05↑26.50(0.58%)
Eicher Motors 3700.00↑26.75(0.73%)
Grasim Inds 1767.20↑32.70(1.89%)
H D F C 2630.15↓-14.65(-0.55%)
HCL Technologies 1122.00↓-16.30(-1.43%)
HDFC Bank 1595.30↓-9.10(-0.57%)
HDFC Life Insur. 575.60↑1.45(0.25%)
Hero Motocorp 2905.50↑34.90(1.22%)
Hind. Unilever 2679.80↓-16.00(-0.59%)
Hindalco Inds. 416.40↓-3.30(-0.79%)
ICICI Bank 940.80↓-5.95(-0.63%)
IndusInd Bank 1309.85↑8.05(0.62%)
Infosys 1277.50↓-27.00(-2.07%)
ITC 442.00↑1.35(0.31%)
JSW Steel 713.60↑1.45(0.20%)
Kotak Mah. Bank 1948.95↑24.05(1.25%)
Larsen & Toubro 2272.05↑3.75(0.17%)
M & M 1410.20↑14.80(1.06%)
Maruti Suzuki 9720.20↑138.10(1.44%)
Nestle India 21659.15↓-175.00(-0.80%)
NTPC 174.90↑0.80(0.46%)
O N G C 153.50↓-1.90(-1.22%)
Power Grid Corpn 235.00↓-0.60(-0.25%)
Reliance Industr 2468.85↓-8.40(-0.34%)
SBI Life Insuran 1220.00↑4.60(0.38%)
St Bk of India 584.55↓-2.65(-0.45%)
Sun Pharma.Inds. 1013.30↑4.55(0.45%)
Tata Consumer 789.40↓-3.05(-0.38%)
Tata Motors 554.40↑8.15(1.49%)
Tata Steel 108.95↓-0.45(-0.41%)
TCS 3231.70↓-57.20(-1.74%)
Tech Mahindra 1087.75↓-21.60(-1.95%)
Titan Company 2864.30↑8.60(0.30%)
UltraTech Cem. 8085.00↑203.00(2.58%)
UPL 693.40↑3.40(0.49%)
Wipro 399.25↓-4.95(-1.22%)

ICICI Bank, Indian Bank at risk of becoming 'fallen angels', warns S&P

S&P terms an entity a "fallen angel" if its rating is lowered to speculative-grade from investment-grade

Abhijit Lele

Premium

Illustration: Ajay Mohanty

1 min read Last Updated : Dec 02 2020 | 11:55 PM IST

Many potential “fallen angel” banks — including ICICI Bank and public sector lender Indian Bank — face risks from a more severe economic downturn due to the Covid-19 pandemic, Standard and Poor’s (S&P) has warned.

S&P terms an entity a “fallen angel” if its rating is lowered to speculative-grade (a long-term rating of ‘BB+’ or lower) from investment-grade (a long-term rating of 'BBB-' or higher).

Potential “fallen angels” are issuers rated ‘BBB-’ with negative outlook or on CreditWatch negative. There have been three fallen angels in Asia-Pacific since the Covid-19 outbreak — Axis Bank, Bajaj Finance, and Hero FinCorp — S&P said in a statement.