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IDBI Bank Ltd.

BSE: 500116 Sector: Financials
NSE: IDBI ISIN Code: INE008A01015
BSE 00:00 | 24 Apr 2020 IDBI Bank Ltd
NSE 05:30 | 01 Jan 1970 IDBI Bank Ltd

Announcement under Regulation 30 (LODR)-Credit Rating

April 4, 2020, 2:50 pm | Source: BSE

Moodys had shared draft press release on April 03 2020 affirming the deposit rating of IDBI Bank at Ba2.The baseline credit assessment (BCA) and adjusted BCA of IDBI Bank has also been affirmed at b2.At the same time the outlook for IDBI is revised to Stable from Positive.It may be mentioned that IDBI Bank has terminated all rating contracts/ engagements with Moodys Investors Services for various issues under the Banks MTN Bond Programme.Bank had earlier on December 26 2017 intimated the said termination to Stock Exchanges as per SEBI (LODR) Regulations 2015. Since the press release does not mention that the rating is unsolicited an intimation in this regard was sent to Moodys on April 03 2020. However Moodys did not respond to the said intimation and published the combined press release for four Banks including IDBI Bank. The copy of combined press release downloaded from their website is attached.