Fitch affirms Bank of India

Fitch Ratings said it affirmed Bank of India's individual rating at C/D and support rating at 2.

Ratings reflect the bank's well-established domestic franchise, significantly improved capitalization ratios and majority government ownership, the agency said.

Ratings are expected to remain largely stable despite the current economic downturn, unless its asset quality and capital ratios were to deteriorate significantly, Fitch said.

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