Bank of Baroda’s Ratings Affirmed; Outlook Revised to Stable from Negative
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Ref: IN0012 1RA 00- 0 1 9 November 2021
Bank of Baroda’s Ratings Affirmed; Outlook Revised to Stable from Negative
Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has affirmed the Long -Term Foreign Currency Rating ( LT FCR ) and Sho rt-Term Fore ign Currency Rating (ST FCR) of Bank of Baroda (BOB) a t ‘BBB-’ and ‘A3’, respectively. At the same time, CI Ratings has affirmed BOB’s Bank Standalone Rating (BSR) of ‘bb’, Core Financial Strength (CFS) rating of ‘bb’ and Extraordinary Support Level (ESL) of High . The Outlook for the LT FCR and BSR has been revised to Stable from Negative .
The change in the Outlook follows a revision in CI’s in ternal assessment of the credit worthiness of the Indian sovereign on the back of ongoing economic recovery from the Covid-19 shock and an improved int ernational liquidity…