Moody's Cuts Indian Overseas Bank Financial Strength Rating

Mumbai: Global rating agency Moody's Investors Service has lowered Indian Overseas Bank's baseline credit assessment (BCA) by two notches following a rise in bad assets of the state-run lender. It, however, affirmed the senior unsecured and local currency deposit ratings of IOB at 'Baa3' on a high likelihood that the government will support the lender. "Moody's has lowered IOB's bank financial strength rating (BFSR) to E+ fro...