(The following statement was released by the rating agency)
Aug 22 - Standard & Poor's Ratings Services today corrected its long-term Greater China
credit scale rating on the Chinese yuan (CNY) 650 million 4.5% senior unsecured notes of IDBI
Bank Ltd. The rating should be 'cnBBB+' to reflect the revision in the outlook on the
long-term counterparty credit rating on the bank (foreign currency
BBB-/Negative/A-3) to negative from stable on April 25, 2012. The foreign
currency long-term issue rating on these notes remains unchanged at 'BBB-'.
All other outstanding ratings on IDBI or its issues remain unchanged.
RELATED CRITERIA AND RESEARCH
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Following Sovereign Rating Action; Ratings Affirmed, April 25, 2012
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-- Credit FAQ: Greater China Credit Rating Scale Explained, April 27, 2011