Axis Bank Ltd.

Credit rating agency -- Fitch Ratings has revised outlook of Axis Bank to ‘stable’ from ‘negative’ on the Long-Term Issuer Default Ratings (IDR). The revision is due to diminished downside risks to India’s medium-term growth due to easing financial sector weakness and rapid economic recovery.

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.