S&P revises ICICI Bank outlook to stable
The Hindu
Cites stake sale in arms, better earnings
S&P Global Ratings on Friday said it has revised the rating outlook on ICICI Bank Ltd. to stable from negative on grounds that the lender will benefit from the sale of stake in subsidiaries. The rating agency affirmed its ‘BBB-’ long-term and ‘A-3’ short-term issuer credit ratings of ICICI Bank. “We revised the rating outlook to reflect our view that ICICI Bank will maintain its strong capital position over the next 24 months,” S&P said.
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