Moody’s lists 8 banks for review

MUMBAI, January 9: Moody’s Investor Services has said the review of the rating of eight commercial banks and four development financial institutions (DFIs) would not affect the short term foreign currency rating of the banks nor the financial strength ratings of the institutions.

The foreign currency deposit rating of these banks and foreign currency senior debt ratings of the DFIs have been placed on review for a possible downgrade following the review of the sovereign rating of India.

The statement of the rating agency from Limassol, downloaded from Moody’s website said the "BA1" rating of bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Oriental Bank of Commerce, Punjab National Bank, Union Bank of India and State Bank of India would be reviewed.