S&P ups Icici Bank view to positive

Standard & Poor's said it revised the outlook on Icici Bank to positive from stable.

This followed the similar outlook revision on India's sovereign ratings (BB+/positive/B) to positive from stable, the agency noted.

At the same time, S&P said it affirmed the BB+/B foreign currency ratings on the bank.

The outlook revision on Icici Bank reflects its improving stand-alone profile against the backdrop of a stronger operating environment, S&P added.

The ratings on India's Icici Bank reflect its strong market position, satisfactory financial profile, supported by its adequate profitability, better loan quality and diversification, the agency said.

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