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Mumbai, July 20

Crisil reaffirmed the ratings of 11 Indian arms of global financial institutions after the re-examination of its ratings. Some of the global financial institutions whose Indian entities were re-examined are Barclays Bank, Deutsche Bank, General Electrical Capital Corp, JP Morgan Chase and Co and Standard Chartered Bank. Crisil had earlier announced that it was re-examining its ratings given to 27 institutions operating in the Indian financial sector whose ratings were link ed to the global ratings assigned to its foreign parent company. It had declared the result of the 16 entities previously. After the re-examination, the ratings and outlook of all the 11 entities remain unchanged. The global parents’ credit quality was considered adequate to support Crisil’s current ratings of the Indian subsidiaries.

– Our Bureau

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