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  Business   Companies  17 Nov 2017  Moody's ups ratings of four Indian financial institutions

Moody's ups ratings of four Indian financial institutions

PTI
Published : Nov 17, 2017, 1:31 pm IST
Updated : Nov 17, 2017, 1:31 pm IST

Rating agency has also upgraded the bank's baseline credit assessment and adjusted it to Baa2 from Baa3.

Moody's has assigned a stable outlook to SBI's DIFC branch.
 Moody's has assigned a stable outlook to SBI's DIFC branch.

New Delhi: Moody's Investors Service on Friday upgraded the long-term ratings of four Indian financial institutions including SBI and HDFC Bank by a notch to Baa2 following the upgrade of the countrys sovereign rating to the same level.

The four institutions with revised rating are Export- Import Bank of India (EXIM India), HDFC Bank, Indian Railway Finance Corporation Limited (IRFC) and State Bank of India (SBI), Moody's said in a statement.

In the case of HDFC Bank, the rating agency has also upgraded the bank's baseline credit assessment (BCA) and adjusted it to Baa2 from Baa3, it said. Moody's has assigned a stable outlook to SBI's DIFC branch.

The US-based agency today upped India's rating to Baa2 from Baa3 and changed its rating outlook to 'stable' from 'positive', saying the reforms will help stabilise rising levels of debt.

Tags: moodys, indian financial institutions, sbi, hdfc, exim bank
Location: India, Delhi, New Delhi