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Outlook On 12 Indian Banks Revised To Negative Following The Sovereign Rating Action Feb 09

  • ID: 1782354
  • February 2009
  • Region: India
  • Standard & Poors

FEATURED COMPANIES

  • Axis Bank Ltd.
  • Bank of India
  • HDFC Bank Ltd.
  • ICICI Bank Ltd.
  • IDBI Bank Ltd.
  • Indian Bank
  • MORE

Abstract
SINGAPORE (Standard & Poor's) Feb. 24, 2009--Standard & Poor's Ratings Services said today that it had revised the outlook on the counterparty credit ratings for the following Indian banks to negative from stable: -- Axis Bank (BBB-/A-3) -- Bank of Baroda (BBB-/A-3) -- Bank of India (BBB-/A-3) -- Canara Bank (BBB-/A-3) -- HDFC Bank Ltd. (BBB-/A-3) -- ICICI Bank Ltd. (BBB-/A-3) -- IDBI Bank Ltd. (BBB-/A-3) -- Indian Overseas Bank (BBB-/A-3) -- Indian Bank (BBB-/A-3) -- State Bank of India (BBB-/A-3) -- Syndicate Bank (BBB-/A-3) -- Union Bank of India (BBB-/A-3) The outlook revisions follow a similar revision to the sovereign credit rating on India (BBB-/Negative/A-3). See article titled "India-s Outlook Revised To Negative On Increasing Fiscal Deficit; 'BBB-' Rating...

Companies mentioned in this report are:
- Axis Bank Ltd.
- India (Republic of) (Unsolicited Ratings)
- State Bank of India
- Bank of Baroda (Unsolicited Ratings)
- Bank of India
- IDBI Bank Ltd.
- Union Bank of India
- Canara Bank (Unsolicited Ratings)
- Indian Overseas Bank
- ICICI Bank Ltd.
- HDFC Bank Ltd.
- Syndicate Bank
- Indian Bank

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Note: Product cover images may vary from those shown

- Axis Bank Ltd.
- India (Republic of) (Unsolicited Ratings)
- State Bank of India
- Bank of Baroda (Unsolicited Ratings)
- Bank of India
- IDBI Bank Ltd.
- Union Bank of India
- Canara Bank (Unsolicited Ratings)
- Indian Overseas Bank
- ICICI Bank Ltd.
- HDFC Bank Ltd.
- Syndicate Bank
- Indian Bank

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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