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S&P gives ‘BBB’ credit rating to Indian Bank

SINGAPORE: Standard & Poor’s Ratings Services said on Friday that it had assigned ‘BBB’ long-term and ‘A-3’ short-term counterparty credit ratings to Indian Bank. The outlook on the long-term rating is stable. At the same time, it also assigned ‘C’ bank fundamental strength rating to the bank. “The ratings reflect the bank’s sound capitalisation, adequate earnings, and comfortable liquidity and funding profile,” according to an analyst of the rating agency.

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