In reply to the clarification sought by The National Stock Exchange, Bank Of India has submitted that in the press release dated 27th June 2017, reasons published by `Fitch Ratings for the downward rating is as under: While BOI’s ‘Long Term Issuer Default Ratings (IDRs)’ was affirmed, its viability Rating (VR) has been downgraded to ‘b+’ from ‘bb-’ to reflect its weaker intrinsic risk profile compared with higher-rated peers. The bank’s core capital buffer has dropped significantly due to persistent losses and its appears vulnerable to moderate shocks.
The above information is a part of company’s filings submitted to BSE.
