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Mumbai, Sept. 16

Standard & Poor's said its ratings and outlook on IDBI Ltd (BB+/Positive/B), were not affected by the proposed merger with United Western Bank.Crisil has reaffirmed the ratings assigned to IDBI's debt instruments following the announcement of the draft scheme of amalgamation with UWB. The reaffirmation reflects Crisil's belief that the amalgamation of UWB will not materially impact IDBI's credit profile, given UWB's relatively small size in comparison with IDBI, the release said.

(This article was published in the Business Line print edition dated September 17, 2006)
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