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India Ratings Revises IndusInd Bank's Outlook to Stable, affirms 'IND AA+'


India Ratings Revises IndusInd Bank s Outlook to Stable, affirms IND AA+
Posted On:
2021-04-01 01:59:37
(Time Zone: Arizona, USA)
India Ratings and Research (Ind-Ra) has revised IndusInd Bank Limited s (IBL) Outlook to Stable from Negative while affirming its Long-Term Issuer Rating at IND AA+ . The agency has also affirmed the Short-Term Issuer Rating at IND A1+ .
The Outlook revision reflects the following factors: the improvement in IBL s deposit and liability profile; the easing of the agency s concerns on asset-quality metrics; sharper recovery, leading to expectations of moderate credit costs and strengthened capital buffers, as the bank raised about INR53 billion in FY21 (including promoter warrant conversion; total equity raise amounting to 15% of its FY20 net worth); a manageable impact of the COVID-19 led lockdown on its liabilities and an overall manageable impact on the asset quality; and peer-comparable provision buffers. ....

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