Fitch Afrms and Withdraws IDBI Bank Limited's Ratings

Fitch Ratings has released Ratings on June 02, 2021, wherein it has affirmed its Long-Term Issuer Default Ratings (IDR) at 'BB+' with a 'Negative' outlook, and Viability Rating at 'ccc+'. Concurrently, Fitch is also withdrawing all ratings on IDBI Bank for commercial reasons.

It may be mentioned that the MTN Bonds rated by Fitch were fully repaid on November 30, 2020, the Bank had terminated the rating engagements / agreement with Fitch for various issues made under the MTN Bond Programme on May 21, 2021.

Shares of IDBI BANK LTD. was last trading in BSE at Rs.39.2 as compared to the previous close of Rs. 37.75. The total number of shares traded during the day was 2195276 in over 5431 trades.

The stock hit an intraday high of Rs. 39.4 and intraday low of 37.5. The net turnover during the day was Rs. 85204126.

Source : Equity Bulls

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