Axis Bank Ltd.

The credit rating agency -- Moody's Investors Service has revised the outlook for AXIS Bank from stable to negative. Further, it has downgraded the counterparty risk assessments of the Bank to Baa3(cr)/P-3(cr) from Baa2(cr)/P-2(cr), and the local currency counterparty risk rating of the Bank to Baa3/P-3 from Baa2/P-2.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.