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TEXT-S&P corrects Greater China scale rating on IDBI sr unsecd nts
August 22, 2012 / 12:15 PM / 5 years ago

TEXT-S&P corrects Greater China scale rating on IDBI sr unsecd nts

(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

-- Outlooks On 11 Indian Financial Institutions Revised To Negative Following Sovereign Rating Action; Ratings Affirmed, April 25, 2012

-- Banks: Rating Methodology And Assumptions, Nov 9, 2011

-- Credit FAQ: Greater China Credit Rating Scale Explained, April 27, 2011

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