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Informist, Saturday, Aug. 16, 2025

 

--Indian Bank: S&P upgraded long-term issuer credit rtg to 'BBB' from 'BBB-' 

--Indian Bank: S&P upgraded short-term credit rating to 'A-2' from 'A-3' 

--Indian Bank: S&P revised credit rating outlook to stable from positive 

--S&P upgrades issuer credit rtg on 7 bks, 3 fin cos to 'BBB' from 'BBB-' 

--S&P upgrades issuer credit rtg on HDFC Bank, ICICI Bank, SBI, Axis Bank 

--S&P upgrades issuer credit rtg on Kotak Bk, Union Bank, Bajaj Fin, L&T Fin 

 

MUMBAI – S&P Global Ratings has upgraded long-term issuer credit ratings of seven banks and three financial companies to 'BBB' from 'BBB-' with stable outlooks. Among these, ICICI Bank's long-term issuer credit rating has also been upgraded, with the bank's standalone credit profile affirmed at "A-", the bank informed the exchanges Saturday.

 

HDFC Bank, State Bank of India, Axis Bank, Kotak Mahindra Bank, Union Bank and Indian Bank are also among those whose ratings have been upgraded. Bajaj Finance, Tata Capital and L&T Finance are the three financial companies whose ratings have been upgraded. S&P also upgraded short-term credit ratings of these banks and financial companies to 'A-2' from 'A-3'. 

 

This reflects structural improvements in operating conditions and good economic prospects, according to the ratings agency. The agency upgraded assessment of the financial institutions considering a likely improvement in their risk adjusted capital ratios. The agency considered the ease of raising fresh capital and lower risk weights for these banks and companies on the back of India's rating upgrade and lowered economic risk.

 

S&P Global Ratings had Thursday upgraded India's long-term unsolicited sovereign credit rating to 'BBB' from 'BBB-', becoming the first major ratings agency to do so. S&P cited the Indian economy's resilience and sustained fiscal consolidation for the rating upgrade.  End

 

Reported by Srijita Bose

Edited by Vandana Hingorani

 

 

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