Credit rating agency – Fitch ratings has affirmed Canara Bank's Long-Term Issuer Default Rating (IDR) at 'BBB-'. The Outlook is Negative. At the same time, Fitch has downgraded the bank's Viability Rating (VR) to 'b+' from 'bb-'.
Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.