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Moody’s rates EXIM India notes Baa3
Moody's Investors Service said it assigned a Baa3 rating to the proposed dollar-denominated senior unsecured notes issued by Export-Import Bank of India (EXIM India) from its $10 billion global medium-term note program, through its head office in India.
The bonds will be listed on the Singapore Stock Exchange and Taipei Exchange.
The outlook is positive.
Moody’s said the Baa3 rating reflects: (a) The status of the proposed notes as senior unsecured obligations of the bank; (c) EXIM India's baseline credit assessment of ba3; and (b) Moody's assessment of the bank's very high dependence on, and the high probability of, support from the Government of India (Baa3 positive).
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