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Coronavirus impact: Fitch cuts banks' score of operating environment

Increasing challenges from the pandemic are expected to worsen an already difficult operating environment, Fitch said

Abhijit Lele 

Fitch rating agency
ICICI Bank and Axis Bank are susceptible to a downward viability rating pressure, even though they have better income and capital buffers than their peers.

Faced with the adverse fallout of COVID-19 on the banking sector in India, on Thursday revised its mid-point score for banks’ operating environment to 'BB' from 'BB+' earlier.

Increasing challenges from the pandemic are expected to worsen an already difficult operating environment, it said. ICICI Bank and Axis Bank are susceptible to a downward viability rating pressure, even though they have better income and capital buffers than their peers.

First Published: Fri, March 27 2020. 01:23 IST
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