Fitch assigns Exim of India notes BBB-

Fitch Ratings said it assigned Export-Import Bank of India’s proposed dollar-denominated senior unsecured notes an expected rating of BBB-. The proposed notes will constitute Exim’s direct, unconditional, unsubordinated and unsecured obligations and will rank equally among themselves and with Exim’s other unsubordinated and unsecured obligations.

The proposed notes are rated at the same level as Exim’s long-term issuer default rating in accordance with Fitch’s criteria, which is driven by its support rating of 2 and support rating floor of BBB- and is equated to India’s sovereign rating of BBB-.

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