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Bank of Baroda Outlook Revised to Stable
Standard & Poors, November 1999
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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
Bank of Baroda (Unsolicited Ratings)