Credit Rating Agency -- Moody's Investors Service has downgraded Bank of Baroda’s Baseline Credit Assessment (BCA) to ‘ba3’ to reflect the weakening in asset quality and further downside risk from the deteriorating operating environment in India. BCAs are essentially an opinion on the likelihood of an issuer requiring extraordinary support to avoid a default on its debt obligations.
Further, Moody's affirmed Bank of Baroda's domestic and foreign bank long-term and short-term deposit ratings of Baa3, stable/P-3.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
