Moody's changes IDBI view to negative

Moody's Investors Service said it affirmed the Baa3/Prime-3 global local currency and foreign currency bank deposit ratings of IDBI Bank Ltd.

The outlook is stable.

At the same time, the agency affirmed the bank's D- financial strength rating, which maps to a baseline credit assessment of ba3.

The outlook on IDBI's financial strength rating was changed to negative from stable.

Moody's said the negative outlook reflects IDBI's susceptibility to further asset quality deterioration, given the challenges that the agency expects will continue to confront corporate borrowers.

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