Moody's: Export Import Bank of India notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to Export Import Bank of India's proposed issuance of dollar-denominated regulation S fixed-rate senior unsecured notes under its $2.5 billion euro medium-term note program.

The outlook is stable.

According to Moody's, the rating reflects the status of the notes as senior unsecured obligations of the bank.

In accordance with Moody's government-related issuer rating methodology, the Baa3 foreign currency issuer and senior unsecured debt ratings of the b reflect the combination of: (a) a baseline credit assessment of 12, which maps to Ba2 on long term scale; (b) a high level of government support; and (c) the Baa3 sovereign bond rating as systemic support indicator.

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