Global rating agency, Fitch Ratings has assigned IDBI Bank’s $350 million senior unsecured notes due April 2020 a final rating of ‘BBB-’. This follows the completion of the securities issue and the receipt of final documents conforming to information previously received. The final rating is the same as the expected rating assigned on October 20, 2014. The notes are issued by IDBI’s Dubai branch.
The notes will constitute direct, unconditional, unsubordinated and unsecured obligations of the issuer. They will rank pari passu among themselves and with all other unsubordinated and unsecured obligations of IDBI.
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.
