S&P revises 11 Indian banks to stable

Standard & Poor's said it revised the outlooks on the following Indian banks and financial institutions to stable from negative: Axis Bank Ltd., Bank of India, HDFC Bank Ltd., Icici Bank Ltd., IDBI Bank Ltd., Indian Bank, IDFC Ltd., Kotak Mahindra Bank Ltd., Kotak Mahindra Prime Ltd., State Bank of India and Union Bank of India.

The outlook is still negative on Indian Overseas Bank and Syndicate Bank.

All ratings on all these entities and their issues were affirmed. This follows an outlook revision on the sovereign credit rating on India (BBB-/stable/A-3).

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.