Global credit rating agency, Moody’s Investors Service has affirmed the long-term local and foreign currency bank deposit rating of IDBI Bank at ‘B1’ and changed the outlook to positive from stable. The agency has affirmed the bank and its DIFC branch’s long-term foreign currency senior unsecured debt rating at ‘B1’ and changed the outlook to positive.
The agency stated that the positive outlook reflects the upward pressure that could develop on the bank’s long-term rating, if its credit fundamental such as capital position continues to improve over the next 12-18 months due to capital infusion.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.
