Industry

Moody’s downgrades Indusind Bank to ‘negative’

The private sector bank’s rating has been affirmed at the earlier one of ‘Baa-3/P-3’, the agency said

Concerns over a further deterioration in asset quality have led Moody’s Investors Service to revise down its outlook on IndusInd Bank to ‘negative’ from ‘stable. The private sector bank’s rating has been affirmed at the earlier one of ‘Baa-3/P-3’, the agency said. Baa3 denotes lowest rating in investment grade on long-term corporate obligation which carries moderate risks, the agency said, adding the bank had a high exposure of 8% to the troubled realty sector.PTI

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Printable version | Feb 24, 2020 11:57:33 PM | https://www.thehindu.com/business/Industry/moodys-downgrades-indusind-bank-to-negative/article30795058.ece

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