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Fitch rates EXIM India notes BBB-
Fitch Ratings said it assigned an expected rating of BBB- to Export-Import Bank of India's (EXIM India) proposed dollar-denominated senior unsecured notes.
The proposed notes will constitute EXIM's direct, unconditional, unsubordinated and unsecured obligations and will at all times rank pari passu among themselves and with all of its other unsubordinated and unsecured obligations, Fitch said.
The proposed notes are rated at the same level as EXIM's long-term issuer default rating and is equal to India's sovereign rating, the agency said.
The ratings reflect an expectation of the state's high propensity to provide timely extraordinary support to EXIM, if needed, Fitch said.
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