S&P Rates Indian Overseas Bank BBB on High Likelihood of Extraordinary Government Support
MT Newswires Live
Feb 27
S&P Global Ratings has given a BBB long-term and A-2 short-term issuer credit ratings to Indian Overseas Bank (NSE:IOB, BOM:532388), according to a Friday release.
S&P views the bank as having a very high potential of receiving government support in case of need.
The Indian lender has healthy capitalization, solid funding, and robust liquidity that support its credit quality.
The stable outlook stems from S&P's expectation of continued strong capital position and funding and liquidity profile over the next two years.
Significant changes in the sovereign ratings or in the bank's risk-adjusted capital ratio and funding profile could prompt future rating actions.
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