MELBOURNE -- Standard&Poor's CreditWire 02/27/96 -- Standard&Poor's assigns its double-`B'-plus long-term and single-`B' short-term counterparty ratings to Bank of Baroda (BoB) based on BoB's strong franchise, satisfactory profitability and capitalization, stable funding base, and conservative management. Mitigating factors are high levels of problem loans and the higher operating risks associated with India. A stable outlook is assigned. BoB is the second largest of the Indian state banks with an approximate 6.5% share of scheduled commercial banking deposits. It benefits from a strong franchise, supported by a well distributed domestic branch network and a strong overseas branch network in countries with a sizable non-resident Indian population. BoB offers a wide range of banking services including commercial lending,
