We expect Bank of India's asset quality to remain under pressure over the next 12 months, and have therefore lowered the bank's SACP to 'bb+' from 'bbb-'. We are affirming our 'BBB-' long-term and 'A-3' short-term issuer credit ratings on Bank of India because we continue to see a "very high" likelihood of extraordinary government support. We are also affirming our 'BBB-' long-term issue ratings on the bank's senior unsecured notes. At the same time, we are affirming our 'BBB-' long-term and 'A-3' short-term issuer credit ratings on BoI (New Zealand), which is Bank of India's subsidiary. The stable outlook reflects our expectation that Bank of India will maintain its credit profile over the next 12 months. On June 3,
