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Fitch affirms Punjab National
Fitch Ratings said it has affirmed Punjab National Bank's long-term foreign-currency issuer default rating at BBB- and national long-term rating at Fitch AAA(ind).
The outlook is stable.
Fitch noted that it has further published a national short-term rating of Fitch A1+(ind).
The ratings factor in Punjab National's position as India's second-largest government bank and third-largest bank which, in the agency's view, lends itself to a high probability of government support, if required.
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