Fitch affirms Jammu and Kashmir Bank

Fitch Ratings said it affirmed Jammu and Kashmir Bank's ratings at national long-term AA(ind) with a stable outlook, international individual D and support 4. The agency also affirmed the bank's Rs. 3 billion subordinated debt issues at national long-term AA(ind).

The ratings reflect the bank's tier 1 capital ratio compared with other Indian banks, state government ownership, systemic importance to the state of Jammu and Kashmir and its strategic shift to lending there.

© 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.