Credit rating agency, India Ratings and Research has downgraded rating of State-run IDBI Bank to ‘AA’ from ‘AA+’ and gave a negative outlook due to challenges arising out of stressed assets and weak capital position. The rating agency also downgraded various debt instruments of the bank.
The downgrade in the long-term issuer rating reflects the consistent drop in IDBI’s share of systemic assets as the bank struggles with its asset quality challenges.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.
