Money & Banking

S&P assigns ‘BBB-’ rating to Exim notes

| | Updated on: Jul 31, 2012

Standard & Poor’s Ratings Services today assigned a ‘BBB-’ rating to Export-Import Bank of India’s proposed issue of senior, unsecured, five-year notes.

The rating on these notes reflects the long-term counter-party credit rating on Exim India, said Standard & Poor’s in a statement.

The proposed notes would constitute the direct, unconditional, unsecured, and unsubordinated obligations of Exim India, it said.

They should at all times rank at par among themselves and with all other unsecured obligations of the bank, it added.

The rating on the notes was subject to Standard & Poor’s review of the final issuance documentation, said the rating agency.

Export-Import Bank of India is a premier export finance institution.

Published on March 12, 2018

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