CARE Ratings has upgraded the rating of IDBI Bank’s Basel III Compliant Tier II Bonds aggregating ₹2,000 crore from “A+” to “AA-” and revised the outlook from “positive” to “stable”. The credit rating agency also reaffirmed the “Al+” rating for the bank’s Certificate of Deposits aggregating ₹10,000 crore. The revision in the rating assigned to the long-term debt instruments of IDBI Bank factors in the continued improvement in the bank’s financial risk profile, with improvement in profitability and asset quality parameters with comfortable capitalisation levels over the past two years ended September 30, 2023, the agency said. The rating continues to factor…
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