Moody's changes the Ratings of Indian Banks and Financial Institutions
Moody’s 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, Moody’s will evaluate the impact that this transaction may have on PNB’s financial position after the completion of the whole process. During the review period, Moody’s will focus on the quality of the PNB’s assets and its capitalisation post-merger. The FSR could be confirmed at ‘D’ if IFCI’s poor assets were to be excluded from the merger. Conversely, a weakening of PNB’s standing due to a possible takeover of bad assets from IFCI’s 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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