IDBI Bank’s Long-term Foreign Currency and Bank Standalone Ratings Raised; Outlook Revised to Stable from Negative

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Ref: IN02021CRA00-01 20 January 2022

Ref: IN020 2 1 CRA 00- 0 1 20 January 202 2

IDBI Bank’s Long-term Foreign Currency and Bank Standalone Ratings Raised; Outlook Revised to Stable from Negative

Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has raised the Long-Term Foreign Currency Rating (LT FCR) of IDBI Bank to ‘BB + ’ from ‘B B ’ , the B ank Standalone Rating (BSR) to ‘bb-’ from ‘ b+ ’ , and the Core Financial Strength (CFS) rating to ‘bb-’ from ‘ b ’ . The Outlook for the LT FCR and BSR has been revised to Stable from Negative. At the same time, CI Ratings has affirmed the Bank’s ST FCR at ‘B’ and the E xtraordinary S upport L evel (ESL) at High .

The upward revision of the LT FCR, BSR and CFS reflects …