Moody's rates IDBI notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to IDBI Bank Ltd.'s proposed issuance of dollar-denominated senior notes due 2019. The outlook is stable.

The agency has a standalone bank financial strength rating of D- for IDBI Bank, mapping to a baseline credit assessment of Ba3 on the long-term scale. Moody's believes that the probability of systemic support for IDBI Bank is very high from the Indian government in an event of a systemic crisis. Therefore, the foreign-currency senior debt ratings receive a three-notch rating uplift from the baseline credit assessment.

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