Global rating agency, Moody’s Investors Service has downgraded Oriental Bank of Commerce’s global local currency deposit rating to Baa3/P-3 from Baa2/P-2. The rating agency has also downgraded the bank’s standalone rating to ‘D/ba2’ which reflects its weak position when compared with its domestic and global peers, particularly in relation to asset quality.
Oriental Bank of Commerce is a Government of India undertaking whose business activities includes monetary intermediation of commercial banks, saving banks and discount houses.
