Bank of India Downgraded To 'BB+/B' From 'BBB-/A-3' On Weak Asset Quality; Outlook Stable - S&P Global Ratings’ Credit Research

Bank of India Downgraded To 'BB+/B' From 'BBB-/A-3' On Weak Asset Quality; Outlook Stable

Bank of India Downgraded To 'BB+/B' From 'BBB-/A-3' On Weak Asset Quality; Outlook Stable - S&P Global Ratings’ Credit Research
Bank of India Downgraded To 'BB+/B' From 'BBB-/A-3' On Weak Asset Quality; Outlook Stable
Published May 30, 2016
5 pages (2086 words) — Published May 30, 2016
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About This Report

  
Abstract:

We expect BOI's asset quality to remain weak over the next 12 months, and have therefore lowered the bank's SACP to 'bb' from 'bb+'. We are lowering our issuer credit ratings on BOI to 'BB+/B' from 'BBB-/A-3' and our issue ratings on the bank's senior debt to 'BB+' from 'BBB-'. At the same time, we have lowered our issuer credit ratings on BoI (New Zealand), which is BOI's subsidiary, to 'BB+/B' from 'BBB-/A-3'. The stable outlook on BOI reflects our expectation that the likelihood of support to the bank from the government of India will remain very high and that the bank has some headroom in its SACP. SINGAPORE (S&P Global Ratings) May 30, 2016--S&P Global Ratings said today that

  
Brief Excerpt:

...+ We expect BOI's asset quality to remain weak over the next 12 months, and have therefore lowered the bank's SACP to '##' from '##+'. + We are lowering our issuer credit ratings on BOI to '##+/B' from '###-/A-3' and our issue ratings on the bank's senior debt to '##+' from '###-'. + At the same time, we have lowered our issuer credit ratings on BoI (New Zealand), which is BOI's subsidiary, to '##+/B' from '###-/A-3'. + The stable outlook on BOI reflects our expectation that the likelihood of support to the bank from the government of India will remain very high and that the bank has some headroom in its SACP. SINGAPORE (S&P Global Ratings) May 30, 2016--S&P Global Ratings said today that it had lowered its long-term issuer credit rating on India-based Bank of India (BOI) to '##+' from '###-'. The outlook is stable. At the same time, we lowered our short-term rating on the bank to 'B' from 'A-3'. We also lowered our issue ratings on BOI's senior unsecured debt to '##+' from '###-' and our...

  
Report Type:

Ratings Action

Ticker
BOI@IN
Issuer
Bank of India
GICS
Diversified Banks (40101010)
Sector
Global Issuers
Country
India
Region
Emerging Markets
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bank of India Downgraded To 'BB+/B' From 'BBB-/A-3' On Weak Asset Quality; Outlook Stable" May 30, 2016. Alacra Store. Nov 06, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Bank-of-India-Downgraded-To-BB-B-From-BBB-A-3-On-Weak-Asset-Quality-Outlook-Stable-1645646>
  
APA:
S&P Global Ratings’ Credit Research. (). Bank of India Downgraded To 'BB+/B' From 'BBB-/A-3' On Weak Asset Quality; Outlook Stable May 30, 2016. New York, NY: Alacra Store. Retrieved Nov 06, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Bank-of-India-Downgraded-To-BB-B-From-BBB-A-3-On-Weak-Asset-Quality-Outlook-Stable-1645646>
  
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