Crisil revises outlook on Canara Bank s debt instruments to stable ANI | Updated: Mar 05, 2021 17:29 IST
Bengaluru (Karnataka) [India], March 5 (ANI): Crisil has revised its outlook on long-term debt instruments of Canara Bank to stable from negative while reaffirming the ratings at AAA and AA.
The rating on certificate of deposits has been reaffirmed at A1-plus. Crisil had assigned a negative outlook to long-term debt instruments of the bank on August 29 last year following resolution of watch with developing implications.
The negative outlook was assigned to reflect potential stress the bank s asset quality and consequently profitability could witness on account of challenging macro-environment. The revision in outlook to stable factors in better-than-expected performance during the ongoing Covid-19 pandemic.