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Moody's withdraws ratings of Indian Overseas Bank, Central Bank of India

Agencies | Updated on: Wednesday, March 24, 2021, 07:49 AM IST

Moody's withdraws ratings of IOB, Central Bank of India

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Moody's withdraws ratings of IOB, Central Bank of India |
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Global credit rating agency Moody's Investors Service on Tuesday said it has withdrawn the ratings, assessments and outlooks of the Indian Overseas Bank, IOB's Hong Kong Branch and the Central Bank of India.

Moody's said it has decided to withdraw the ratings for its own business reasons.

As regards the IOB, the following ratings and the outlook has been withdrawn: the Long-term Counterparty Risk Ratings (Foreign and Local Currency) of Ba2, the Short-term Counterparty Risk Ratings (Foreign and Local Currency) of NP, and the Long-term Deposit Ratings (Foreign and Local Currency) of Ba2; Outlook Stable.

The Short-term Deposit Ratings (Foreign Currency) of NP, the Long-term Counterparty Risk Assessment of Ba2 (cr), the Short-term Counterparty Risk Assessment of NP (cr), the Baseline Credit Assessment (BCA) and Adjusted BCA of b2, and Stable Outlook have also been withdrawn.

In the case of IOB, Hong Kong Branch, the following ratings have been withdrawn: The Long-term Counterparty Risk Ratings (Foreign and Local Currency) of Ba2, the Short-term Counterparty Risk Ratings (Foreign and Local Currency) of NP, the Long-term Counterparty Risk Assessment of Ba2 (cr), the Short-term Counterparty Risk Assessment of NP (cr), and Stable Outlook.

The ratings that were withdrawn for Central Bank of India are: the Long-term Counterparty Risk Ratings (Foreign and Local Currency) of Ba2, the Short-term Counterparty Risk Ratings (Foreign and Local Currency) of NP, the Long-term Deposit Ratings (Foreign and Local Currency) of Ba2; Outlook Stable, and the Short-term Deposit Ratings (Foreign and Local Currency) of NP.

The Long-term Counterparty Risk Assessment of Ba2 (cr), the Short-term Counterparty Risk Assessment of NP (cr), the Baseline Credit Assessment (BCA) and Adjusted BCA of b2, and Outlook Stable were also withdrawn.

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Published on: Wednesday, March 24, 2021, 07:49 AM IST