Fitch assigns IDBI notes BBB-

Fitch Ratings said it assigned IDBI Bank Ltd.'s (BBB-/stable) $300 million senior unsecured notes due September 2019 a final rating of BBB-.

This follows the completion of the securities issue and the receipt of final documents conforming to information previously received. The final rating is the same as the expected rating assigned on March 19.

The notes, issued by the bank's Dubai branch, will be listed on the Singapore exchange.

Fitch said the senior unsecured instruments are rated at the same level as the bank's issuer default rating because they will constitute direct, unconditional, unsubordinated and unsecured obligations of IDBI Bank. The securities will rank pari passu among themselves and with all other unsecured obligations (other than subordinated obligations) of the bank.

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