Moody's rates IndusInd Bank Baa3 STA

Moody's Investors Service said it assigned a long-term local- and foreign-currency bank deposit and issuer rating of Baa3 STA to IndusInd Bank Ltd.

Moody's also said it assigned a short-term local- and foreign-currency bank deposit and issuer rating of prime-3, baseline credit assessment and adjusted baseline credit assessment of Ba1, long-term and short-term counterparty risk assessment of Baa3(cr)/prime-3(cr) and long-term and short-term local- and foreign-currency counterparty risk ratings of Baa3/prime-3.

The outlook is stable.

The ratings are supported by the likelihood of government support in times of need, the agency said.

The ratings also factors in the bank's strong profitability and capital, as well as healthy asset quality, Moody's said.

The ratings also consider, however, the risks to asset quality from the strong credit growth over the last few years and a moderate funding profile compared to other rated Indian banks, the agency noted.

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