Moody's rates Icici Bank bonds Baa2

Moody's Investors Service said it assigned a Baa2 rating to the dollar-denominated senior unsecured fixed-rate bonds shortly to be issued by Icici Bank Ltd. through its Bahrain branch.

The rating is derived from the bank's C- bank financial strength rating, which reflects the bank's stand-alone financial strength, which is mainly based on its strong domestic retail and corporate franchise as the second largest commercial bank in India, Moody's said.

The rating also reflects the bank's comfortable liquidity position, strong capitalization levels and satisfactory recurring profitability, the agency said.

© 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.