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Moody's changes the Ratings of Indian Banks and Financial Institutions
Moodys has placed on review for a possible downgrade the D financial strength rating (FSR) of Punjab National Bank (PNB) following a recent announcement that it could merge with IFCI. Although no final agreement has yet been reached on such merger, Moodys will evaluate the impact that this transaction may have on PNBs financial position after the completion of the whole process. During the review period, Moodys will focus on the quality of the PNBs assets and its capitalisation post-merger. The FSR could be confirmed at D if IFCIs poor assets were to be excluded from the merger. Conversely, a weakening of PNBs standing due to a possible takeover of bad assets from IFCIs books could result in an FSR downgrade.
Rating of Power Finance Corporation...Read Moody's Comments
Rating of Industrial Development Bank of India...Read Moody's Comments
Rating of IFCI...Read Moody's Comments
Rating of Central Bank of India...Read Moody's Comments
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ALSO READ OTHER RATING RELATED FEATURES
For detailed comments of Moody's upgrade of India's long term foreign currency rating ...Click Here
For detailed comments of Standard & Poor's Upgrade of India's Outlook...Click Here
For detailed comments of Standard & Poor's Ratings of major Indian financial institutions/commercial Banks...Click Here