S&P takes IDBI Bank off negative watch

S&P said it removed the ratings of IDBI Bank from CreditWatch with negative implications.

IDBI recently received a Rs 93 billion capital injection from the government.

“We are affirming our BB foreign-currency issuer credit ratings on IDBI Bank, and the BB long-term issue rating on the notes issued by the bank’s Dubai branch,” said S&P in a press release.

The outlook is negative.

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