Fitch cuts Indian Bank view

Fitch Ratings said it revised Indian Bank's outlook to negative from stable, while affirming its long-term foreign currency issuer default rating at BBB-.

The agency said it also affirmed the bank's viability rating at bbb-, short-term issuer default rating at F3, support rating at 3 and support rating floor at BB+.

The bank's national long-term rating has been affirmed at Fitch AA+(ind) with a stable outlook and national short-term rating at Fitch A1+(ind).

Fitch said the outlook revision reflects increasing asset quality pressures on the bank compared with other Indian banks rated BBB-, because of both cyclical and structural factors.

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