S&P Global revises Indian Bank outlook to stable from negative

S&P Global has revised Indian Bank outlook to stable from negative; ‘BBB-/A-3’ Ratings Affirmed. “Indian Bank’s capitalisation has strengthened owing to its recent equity capital raising and i

S&P Global has revised Indian Bank outlook to stable from negative; ‘BBB-/A-3’ Ratings Affirmed. “Indian Bank’s capitalisation has strengthened owing to its recent equity capital raising and improving profitability. We revised our outlook on Indian Bank to stable from negative,” S&P said in a report. “At the same time, we affirmed our ‘BBB-’ long-term and ‘A-3’ short-term issuer credit ratings on the India-based bank. The stable outlook reflects our expectation that Indian Bank’s capitalisation should be able to withstand modest asset quality pressures over the next 24 months,” it added.