Credit rating agency, CRISIL has assigned ‘AA+/Stable’ rating to the Rs 3000 crore infrastructure bond issue of IDBI Bank and has reaffirmed its ratings on the bank’s existing debt instruments at ‘AA+/AA/AA-/FAAA/Stable/A1+’.
The company has received the said ratings hopes that the bank will continue to receive strong support from its majority owner, the Government of India (GoI), both on an ongoing basis and in the event of distress. The ratings also factor in the bank’s established market position, supported by its large asset base and adequate capitalisation.
IDBI Bank is a Universal Bank with its operations driven by a cutting edge core Banking IT platform. The Bank offers personalized banking and financial solutions to its clients in the retail and corporate banking arena through its large network of Branches and ATMs, spread across length and breadth of India.
