HDFC Bank’s Ratings Affirmed ; Outlook Revised to Stable
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Ref: IN028 2 1 CRA 00- 0 1 17 February 202 2
HDFC Bank’s Ratings Affirmed ; Outlook Revised to Stable
Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has revised the Outlook on the Long-term Foreign Currency Rating ( LT FCR) and the Bank Standalone Rating (BSR) of HDFC Bank Ltd to Stable from Negative. At the same time, the Bank’s LT FCR, Short-term Foreign Currency Rating (ST FCR), BSR and Core Financial Strength ( CFS ) rating of ‘BBB-’, ‘A3’, ‘bbb-’ and ‘a-’ respectively, have all been affirmed. The Extraordinary Support Level (ESL) remains High .
The change in the Outlook follows a revision in CI Ratings’ in ternal assessment of the credit worthiness of the Indian sovereign on the back of ongoing economic recovery from the Covid shock and an improved international liquidity position. It also reflects our expectation that India’s economy and public finances…