Ratings downgrade of ICICI Bank, Axis Bank reflects impatience in investors

June 06, 2019 |
|
Banking
Ratings downgrade of ICICI Bank, Axis Bank reflects impatience in investors

Mumbai: ICICI Bank Ltd and Axis Bank Ltd both found their ratings for foreign issuances downgraded to so-called junk or below investment grade earlier this week by Fitch Ratings.

Fitch’s reason: The operating environment doesn’t warrant a BBB- rating for these lenders. Both these lenders are now rated lower at BB+.

 

Related Articles

© 2019 Financial Views. All Rights Reserved