Bank of India recently announced ratings and assignments across several instruments from Fitch Ratings and S&P Global Ratings, including an initial BBB rating for its US$1 billion Medium-Term Note Program, equalized with its issuer credit rating of BBB/Stable/A-2 by S&P Global Ratings, and a corresponding BBB- rating assigned by Fitch Ratings, also linked to the bank's Long-Term Issuer Default Rating of BBB- and Government Support Rating of BBB-, both equalized with India's sovereign rating; S&P further affirmed a BBB+ rating on USD 500 million bonds, while Fitch assigned a 'BB(xgs)' LT (xgs) senior unsecured rating and a Viability Rating of 'bb', both aligned with the Long-Term IDR, and also provided a new rating of BBB- for senior unsecured obligations within the USD1 billion MTN Programme.
