Moody's: Icici unchanged

Moody's Investors Service said that the proposed merger of Icici Bank with Bank of Rajasthan will not have an impact on Icici Bank's C- bank financial strength rating nor its Baa2 global local currency deposit rating and foreign currency senior unsecured debt rating.

Over the longer term, Moody's said it expects Icici Bank's franchise value to benefit from this merger but with no immediate positive impact on its ratings.

Specifically, Moody's noted that Icici Bank's proposal to merge with the relatively small private-sector Bank of Rajasthan will have either a limited or no effect on its financial fundamentals.

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