Moody’s changes IDBI Bank to positive

Moody's Investors Service said it affirmed the long-term local and foreign currency bank deposit rating of IDBI Bank Ltd. at B1 and changed the outlook to positive from stable.

The agency also affirmed IDBI and its DIFC branch's long-term foreign currency senior unsecured debt rating at B1 and changed the outlook to positive.

In addition, Moody's affirmed the bank's baseline credit assessment at caa1 and the counterparty risk assessment at Ba3(cr)/NP(cr).

The outlook on IDBI and its DIFC branch was changed to positive from stable.

Moody’s said the positive outlook reflects the upward pressure that could develop on the bank's long-term rating, if its credit fundamentals – namely the capital position – continues to improve over the next 12 to 18 months due to capital infusions from the Indian government (Baa2 stable).

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