Moody's: Export-Import Bank of India notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to Export-Import Bank of India's proposed issuance - acting through its head office in India - of benchmark sized dollar-denominated fixed-rate senior unsecured notes.

The notes will be issued under its $6 billion medium-term note program.

They will have a 10-year maturity and will be listed on Singapore Exchange.

Moody's said the Baa3 rating reflects: (a) The status of the proposed notes as senior unsecured obligations of the bank; (b) the bank's standalone credit profile of Ba2; and (c) Moody's assessment of the bank's very high dependence on and the high probability of support from the Government of India.

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