Fitch Ratings affirms EXIM Bank's rating; outlook stable
Fitch Ratings on Friday affirmed the Export-Import Bank of India's (EXIM Bank) rating with a stable outlook, reflecting its high strategic importance to the state.
on Friday affirmed the Export-Import of India's () rating with a stable outlook, reflecting its high strategic importance to the state. EXIM's (IDR) and outlook are at the same level as (BBB-/Stable). The agency has also affirmed the bank's (GSR) at 'bbb-'."This reflects EXIM's high strategic importance to the state, which stems from its long-term policy role, its status as a , 100 per cent and significant protection for EXIM's creditors due to access to from the authorities during periods of crisis," Fitch said in a statement.
Fitch views the government's 100 per cent ownership of EXIM as strategic and permanent.
"EXIM's longstanding policy role as the principal financial institution that finances and promotes India's is driven by its founding act. EXIM extends lines of to less developed countries, underpinning its close linkages to the sovereign," Fitch said.
Source: Stocks-Markets-Economic Times
