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S&P lowers credit profile rating of Bank of India

04 Jun 2015 Evaluate

Global credit rating agency, Standard & Poor’s has lowered Bank of India’s Standalone Credit Profile (SACP) to ‘BB+’ from ’BBB-‘. The rating agency expects bank’s asset quality to remain weak over the next 12 months.

However, the agency has affirmed ‘BBB-‘ Long-term and ‘A-3’ Short-term issuer credit ratings.

The bank was reportedly planning to re-enter the investment banking space with the aim to tap more fee-based income.



Peers
Company Name CMP
State Bank Of India 996.55
PNB 121.60
Bank Of Baroda 246.25
Canara Bank 119.00
Union Bank Of India 185.50
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