Moody's withdraws credit ratings on IDBI Bank

Chennai: Global credit rating agency Moody's Investors Service on Monday said it has withdrawn IDBI Bank Ltd's ratings for business reasons.

According to Moody's, it has withdrawn the Ba1/NP long-term (LT) and short-term (ST) local and foreign currency counterparty risk ratings (CRR), Ba2/NP LT and ST local and foreign currency bank deposit ratings, Ba2 foreign currency senior unsecured rating, Ba1(cr)/NP(cr) LT and ST counterparty risk assessments (CRA), and b1 baseline credit assessment (BCA) and adjusted BCA.

The stable outlook on the long-term bank deposit and senior unsecured ratings was also withdrawn. Moody's has also withdrawn IDBI Bank Ltd, DIFC Branch's Ba1/NP LT and ST local and foreign CRRs and Ba1(cr)/NP(cr) LT and ST CRAs.

The stable rating outlook was also withdrawn.