Bank of Baroda Outlook Revised to Stable
- ID: 1781167
- November 1999
- Standard & Poors
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Research type: News
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MELBOURNE (Standard & Poor's CreditWire) Nov. 30, 1999--Standard & Poor's today revised its rating outlook on Bank of Baroda to stable from negative. The double-'B' long-term and single-'B' short-term foreign currency counterparty credit ratings also are affirmed. Previous concerns regarding the possible adverse impact of Bank of Baroda's asset quality, profitability, and capital stemming from exposure to weak industrial sectors have abated. Key industries such as steel, cement, chemicals, and engineering, to which Bank of Baroda is exposed, have begun to show some positive signs compared with 12 months ago. Weakness in these key industries is now not expected to be of a magnitude that will compromise the bank's existing ratings. Bank of Baroda's ratings continue to reflect the bank's...
Companies mentioned in this report are: Bank of Baroda (Unsolicited Ratings)
Action: Outlook Revised