S&P Global Ratings on Tuesday assigned ‘BBB’ long-term rating to Bank of India (BoI) on sufficient capitalisation, solid funding, and healthy liquidity.
The US-based agency said the ratings reflect the likelihood of extraordinary support for the state-run bank from the government, if needed.
The long-term rating on BoI is one notch above its assessment of the stand-alone credit profile (SACP) for the bank, S&P said while assigning its ‘BBB’ long-term and ‘A-2’ short-term issuer credit ratings to the bank.
‘BBB’ rating denotes adequate capacity of the institution to meet its financial commitments.
The stable outlook on long-term rating reflects our view that the bank will maintain its adequate capital position and solid funding and liquidity over the next two years.
“We base our view on BoI’s very important role as a public sector bank in promoting financial inclusion through increased access to deposits and lending. The bank has very strong links with the government via the …
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