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PNB, SBI, 13 others get Moody's counterparty risk ratings

Press Trust of India  |  Mumbai 

Global ratings agency Moody's Investors Service today gave counterparty risk ratings (CRR) to 15 lenders in the country, including fraud-hit Punjab National and country's largest lender SBI.

Others who got the ratings include ICICI Bank, Axis Bank, of Baroda and HDFC Bank, among others.

It said the CRR are opinions of the ability of entities to honour the uncollateralised portion of non-debt counterparty financial liabilities (CRR liabilities) and also reflect the expected financial losses in the event that such liabilities are not honoured.

The agency also upgraded the counterparty risk assessments of four banks, including PNB, ICICI Bank, of Baroda and

"The counterparty risk (CR) assessment of Punjab National Bank was upgraded to Baa3(cr)/P-3(cr) from Ba1(cr)/NP(cr)," a statement from the agency said.

Axis Bank, and had their CR assessments upgraded to Baa2(cr)/P-2(cr) from Baa3(cr)/P-3(cr).

PNB in a statement today said, "Following the bank's strong recovery and the Government of India's continued support, (PNB) has been assigned counterparty risk rating (CRR) from Moody's Investors Service.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 12 2018. 21:35 IST