IDBI Bank has terminated rating engagements with global rater S&P for issues under MTN (medium term note) bond programme. S&P Global Ratings has affirmed its 'BB' long-term and 'B' short-term foreign currency issuer credit ratings on IDBI Bank with negative outlook. It has also affirmed 'BB' programme rating on senior secured notes under its MTN programme.
However, as the MTN bonds rated by S&P were fully repaid on November 30, 2020, the bank had terminated the rating engagements/agreement with S&P for various issues made under the MTN bond programme on May 21, 2021.
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