Moody's Changes Outlook Of Indian Banks, Corporates From Negative To Stable: What It Means

Global credit ratings agency Moody's Investors Service on Wednesday upgraded its outlook on certain Indian banks and corporates to stable from negative.

New Delhi: Global credit ratings agency Moody's Investors Service on Wednesday upgraded its outlook on certain Indian banks and corporates to stable from negative. The rating actions taken on the Indian banks included Axis Bank, Bank of Baroda, Canara Bank, Export-Import Bank of India (EXIM India), HDFC Bank, ICICI Bank, Punjab National Bank, State Bank of India and Union Bank of India.

What It Means For The Lenders

Moody's has affirmed the long-term local and foreign current deposit ratings for Axis, HDFC Bank, ICICI and SBI, at Baa3.

For EXIM India, the long-term issuer rating has been kept at Baa3.