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Moody's changes the Ratings of Indian Banks and Financial Institutions
Moody's has upgraded the financial strength rating (FSR) of Central Bank of India (CBI) to E+ from E. The upgrade reflects the consistent improvement in the banks core profitability and asset quality in recent years. Moodys notes that these two factors, which were formerly somewhat weak, had been the main drivers exerting negative pressure on the banks FSR. The large volume of non-performing loans (NPLs) had, in the past, threatened the banks solvency. The revised FSR takes into account the increasing recurring earnings and enhanced bottom-line profitability that CBI has demonstrated over the last few years, but also the somewhat weak capital base of the bank and its still relatively high level of NPLs. CBIs new rating has a stable outlook.
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 Punjab National Bank...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