SINGAPORE, July 31: Standard & Poor’s Ratings Services today assigned its ‘BBB-‘ rating to the proposed issue of senior unsecured five-year notes by Export-Import Bank of India.
The rating on these notes reflects the long-term counter-party credit rating on EXIM India, said Standard & Poor’s in a statement.
The proposed notes would constitute direct, unconditional, unsecured, and unsubordinated obligations of EXIM India, it said.
They should at all times rank at par among themselves and with all other unsecured obligations of the bank, it added.
The rating on the notes was subject to Standard & Poor’s review of the final issuance documentation, said the rating agency.
Export-Import Bank of India is a premier export finance institution. (PTI)
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