Credit rating agency -- CRISIL has assigned rating of ‘A+’ with stable outlook to the Rs 2,000 crore tier two bonds under Basel III of IDBI Bank. The ratings on the bank's other debt instruments were reaffirmed at 'A+', 'A-' and 'A1+'. Crisil also withdrew its rating on bonds of Rs 3,861.24 crore in line with its withdrawal policy.
The rating continues to factor in expectation of strong support from Life Insurance Corporation (LIC) and the government both on an ongoing basis and in the event of distress.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.
