| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers I > Headlines for ING Vysya Bank Ltd. > News item |
Fitch lowers ING Vysya; outlook negative
Fitch Ratings said it has downgraded ING Vysya Bank Ltd.'s national long-term rating to AA(ind) from AA+(ind) and revised its outlook to negative from stable.
At the same time, the agency said it has downgraded the bank's Rs. 3.9 billion subordinated debt rating to AA(ind) from AA+(ind), while affirming its individual rating at D and support rating at 3.
According to the agency, the downgrade and outlook revision reflect Fitch's assessment that the ING Group's (A+/negative) flexibility to support its minority (44%) subsidiary in India has been diluted somewhat by its new "back to basics" strategy.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.