Bank of Baroda Ratings Affirmed by Fitch and S&P
Bank of Baroda has received updated ratings from Fitch Ratings and S&P Global Ratings for its US$ notes issued under the MTN program. Fitch has assigned final ratings of 'BBB-' to Bank of Baroda's USD400 million 5.114% senior unsecured notes due August 2029 and USD300 million 5.318% senior unsecured notes due August 2031. These ratings are in line with the bank's Long-Term Issuer Default Rating (IDR), which is supported by the 'bbb-' Government Support Rating reflecting high probability of extraordinary state support. S&P Global Rating has assigned a 'BBB' rating to the same issuances. CareEdge Global has rated the issuances 'BBB+/Stable'. The ratings reflect the bank's strong government backing and its position as India's second-largest state bank.
Key Highlights
- Fitch assigns 'BBB-' rating to BOB's USD400M and USD300M senior unsecured notes.
- S&P Global Rating assigns 'BBB' to the same note issuances.
- CareEdge Global rates the notes 'BBB+/Stable'.
- Ratings align with BOB's Long-Term IDR, supported by government backing.
- Outlook on IDR mirrors sovereign outlook (BBB-/Stable).
Price Impact
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