Bank of Baroda – LT FCR Outlook Revised to Positive ; Ratings Affirmed

Ref: IN0012 4 C RA 00- 0 1 30 October 202 4

Bank of Baroda – LT FCR Outlook Revised to Positive ; Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has revised the Outlook on the Long-Term Foreign Currency Rating (LT FCR) of Bank of Baroda (BOB) to Positive from Stable, reflecting an expected improvement in CI Ratings’ internal assessment of sovereign credit risk and the high likelihood of extraordinary support from the government in the event of need. At the same time, CI has affirmed the Bank’s LT FCR of ‘BBB-’, its Short-Term Foreign Currency Rating (ST FCR) of ‘A3’, Bank Standalone Rating (BSR) of ‘bb+’ with a Stable Outlook, Core Financial Strength (CFS) rating of ‘bb+’ and Extraordinary Support Level (ESL) of High.

The high ESL is underpinned by the Bank’s large size (USD199bn assets at end FY24), systemic importance, majority…