Bank of India Outlook Revised To Negative On Weakening Asset Quality And Capitalization; 'BBB-/A-3' Ratings Affirmed

We are revising the outlook on Bank of India to negative from stable because of a potential deterioration in the bank's asset quality and capitalization. At the same, we are affirming our 'BBB-' long-term and 'A-3' short-term issuer credit ratings on Bank of India and our 'BBB-' long-term issue ratings on the bank's senior unsecured notes because we continue to see a very high likelihood of extraordinary government support for the bank. In line with the outlook revision and rating affirmation, we are revising the outlook to negative and affirming our 'BBB-' long-term and 'A-3' short-term issuer credit ratings on BOI (New Zealand), which is Bank of India's subsidiary. SINGAPORE (Standard&Poor's) Feb. 16, 2016--Standard&Poor's Ratings Services

...+ We are revising the outlook on Bank of India to negative from stable because of a potential deterioration in the bank's asset quality and capitalization. + At the same, we are affirming our '###-' long-term and 'A-3' short-term issuer credit ratings on Bank of India and our '###-' long-term issue ratings on the bank's senior unsecured notes because we continue to see a very high likelihood of extraordinary government support for the bank. + In line with the outlook revision and rating affirmation, we are revising the outlook to negative and affirming our '###-' long-term and 'A-3' short-term issuer credit ratings on BOI (New Zealand), which is Bank of India's subsidiary. SINGAPORE (Standard & Poor's) Feb. 16, 2016--Standard & Poor's Ratings Services said today that it had revised its outlook on Bank of India to negative from stable. At the same time, we affirmed our '###-' long-term and 'A-3' short-term issuer credit ratings on the India-based bank. We also affirmed our '###-' long-term...

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