IDBI Bank has informed that Fitch Ratings has released Ratings on June 02, 2021, wherein it has affirmed its Long-Term Issuer Default Ratings (IDR) at 'BB+' with a 'Negative' outlook, and Viability Rating at 'ccc+'. Concurrently, Fitch is also withdrawing all ratings on IDBI Bank for commercial reasons. Company’s rationale for rating is attached. It may be mentioned that the MTN Bonds rated by Fitch were fully repaid on November 30, 2020, the Bank had terminated the rating engagements/ agreement with Fitch for various issues made under the MTN Bond Programme on May 21, 2021.
The above information is a part of company’s filings submitted to BSE.
