HDFC Bank Ltd. 'BBB-' Rating Affirmed Following The Bank's Fresh Equity Placement; Outlook Stable

HDFC Bank raised share capital of about Indian rupees (INR) 98 billion through a fresh equity placement. The transaction is likely to strengthen the India-based bank's capitalization. We are affirming the issuer credit ratings on HDFC Bank at 'BBB-/A-3'. The stable outlook reflects our view that the bank will maintain its credit profile over the next 12-24 months. SINGAPORE (Standard&Poor's) Feb. 6, 2015--Standard&Poor's Ratings Services said today that it had affirmed its 'BBB-' long-term and 'A-3' short-term issuer credit ratings on India-based HDFC Bank Ltd. The outlook on the long-term rating is stable. At the same time, we affirmed the 'BBB-' long-term issue ratings and 'cnA-' long-term Greater China regional scale ratings on the bank's outstanding

...+ HDFC Bank raised share capital of about Indian rupees (INR) 98 billion through a fresh equity placement. + The transaction is likely to strengthen the India-based bank's capitalization. + We are affirming the issuer credit ratings on HDFC Bank at '###-/A-3'. + The stable outlook reflects our view that the bank will maintain its credit profile over the next 12-24 months. SINGAPORE (Standard & Poor's) Feb. 6, 2015--Standard & Poor's Ratings Services said today that it had affirmed its '###-' long-term and 'A-3' short-term issuer credit ratings on India-based HDFC Bank Ltd. The outlook on the long-term rating is stable. At the same time, we affirmed the '###-' long-term issue ratings and 'cnA-' long-term Greater China regional scale ratings on the bank's outstanding senior unsecured notes. We affirmed the ratings following HDFC Bank's announcement that it had raised about Indian rupees (INR) 98 billion through a fresh equity placement. We expect the transaction to strengthen HDFC Bank's...

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