IDBI Bank gets revision in credit ratings from S&P Global Ratings

IDBI Bank announced that S&P Global Ratings has vide their bulletin dated 04 January 2019 affirmed ''BB'' long term and ''B'' short term foreign currency issuer credit ratings on IDBI Bank and have removed the ratings from CreditWatch where they were placed with negative implications. At the same time, it has affirmed ''BB'' long-term issue rating on the senior unsecured notes issued by the Dubai branch of IDBI Bank. The rationale for revision in ratings is that S&P Global Ratings expects the Bank to meet the regulatory capital requirement following a capital infusion by Life Insurance Corporation of India.

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