Global credit rating agency, Fitch Ratings has assigned IDBI Bank (BBB-/Stable) proposed US dollar-denominated senior unsecured debt an expected rating of ‘BBB-(EXP)’. The senior unsecured instruments are rated at the same level as the bank’s Issuer Default Rating (IDR).
The bank’s IDR is driven by its Support Rating Floor of ‘BBB-‘, which is higher than its Viability Rating of ‘BB’, and reflects Fitch’s expectation of a high probability of extraordinary support from the Government of India, if necessary.
IDBI Bank is new generation public sector universal bank that rides on a cutting edge Core Banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients through its 1,217 branches and 2,101 ATMs.
