Bank of Baroda – Bank Standal one and Core Financial Strength Ratings Raised

Ref: IN0012 3 C RA 00- 0 1 9 November 202 3

Bank of Baroda – Bank Standal one and Core Financial Strength Ratings Raised

Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has raised Bank of Baroda’s (BOB) Bank Standalone Rating (BSR) to ‘bb+’ , from ‘bb’ , and Core Financial Strength (CFS) to ‘bb+’ , from ‘bb’. At the same time, CI Ratings has affirmed BOB’s Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) at ‘BBB-’ and ‘A3’, respectively . The Bank’s Extr aordinary Support Level (ESL) remains High. T he Outlook for the LT FCR and the BSR is Stable.

The upward revision of the BSR reflects a one-notch in crease in both the CFS and the O perating Environment Risk Anchor (O PERA). The recent upgrade in OPERA to ‘bb+’ ( from ‘bb’ ) is underpinned by the success of reforms undertaken…