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Standard and Poor's (S&P) on Wednesday revised its outlook for India's Axis Bank from "stable" to "positive", citing improved asset quality of the privately owned lender.
The rating agency affirmed 'BB+' long-term and 'B' short-term issuer credit ratings on the bank under revised criteria.
In December 2021, the agency had set out details of revision in criteria for rating banks and non-bank financial institutions. It revised norms for Banking Industry Country Risk Assessment (BICRA).
