S&P ups Export-Import Bank of India outlook to positive

Standard & Poor's said it revised Export-Import Bank of India's outlook to positive from stable and affirmed the bank's BB+ long-term and B short-term issuer credit ratings.

The agency said the revised outlook reflects the outlook on the sovereign credit ratings on India, which was revised to positive from stable to reflect the prospects of greater fiscal consolidation across all levels of the government.

The ratings on Export-Import Bank of India, identical to the sovereign, reflect its importance as a public policy bank, S&P said. The ratings also incorporate government ownership of and support for the bank and reflect its record of profitability and solid capitalization.

The agency said the principal source of risk for the bank is from the sovereign, due largely to the persistent high public sector deficits of the government of India.

© 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.