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Moody's Raises Ratings Of SBI, HDFC Bank, Two Other Financial Institutions

Moody's Investors Service has upgraded HDFC Bank's baseline credit assessment (BCA) and adjusted it to Baa2 from Baa3.

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Moody's Raises Ratings Of SBI, HDFC Bank, Two Other Financial Institutions

SBI was among the four Indian financial institutions whose ratings were upgraded by Moody's


New Delhi: Moody's Investors Service on Friday upped the long-term ratings of four Indian financial institutions including SBI and HDFC Bank by a notch to 'Baa2' following the upgrade of the country's sovereign rating to the same level.

The four institutions with revised rating are Export-Import Bank of India (EXIM India), HDFC Bank, Indian Railway Finance Corporation Limited (IRFC) and State Bank of India (SBI), Moody's said in a statement.

In the case of HDFC Bank, the rating agency has also upgraded the bank's baseline credit assessment (BCA) and adjusted it to Baa2 from Baa3, it said.

Moody's has assigned a stable outlook to SBI's DIFC branch. The US-based agency today upped India's rating to Baa2 from Baa3 and changed its rating outlook to 'stable' from 'positive', saying the reforms will help stabilise rising levels of debt.


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