Fitch affirms Export-Import Bank of India ratings

Fitch Ratings said it affirmed Export-Import Bank of India's long-term issuer default rating at BBB- with a negative outlook, short-term issuer default rating at F3, national long-term rating at Fitch AAA(ind) with a stable outlook, support rating at 2, support rating floor at BBB-, domestic deposit program at Fitch AAA(ind) and Rs. 47 billion of bank loans at Fitch AAA(ind).

The bank's ratings are equated to that of the government of India (BBB-/negative) based on the bank's policy role of financing, facilitating and promoting foreign trade and its strong integration with the government, the agency said. The negative outlook on the long-term issuer default rating mirrors the negative outlook on the sovereign.

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