...Government Support-Driven IDR: Canara Bank's Long-Term Issuer Default Rating (IDR) and Government Support Rating (GSR) are equalised with India's sovereign rating (BBB-/Stable), reflecting Fitch Ratings' view of a high probability of extraordinary state support for the bank, if required. This takes into consideration the state's 63% ownership, the bank's large size and reach, and our assessment that the state has a strong propensity to support the banking system in general. The Stable Outlook on the IDR mirrors that on the sovereign IDR. Improved Performance Supports VR: Canara's Viability Rating (VR) is supported by improvements in its risk profile, asset quality and profitability, which we expect to be sustained. We have positive outlooks on most rating factor scores, mirroring the positive outlook on the operating environment (OE). This reflects potential for higher scores if recent improvements are sustained, as we expect, and if the OE score is revised upwards. Improving Operating...
