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Moody's Downgrades Long-Term Deposit Ratings For SBI, HDFC Bank

Moody's has downgraded ratings for SBI and HDFC Bank
Moody's has downgraded ratings for SBI and HDFC Bank
Ratings agency Moody's on Tuesday downgraded the long-term local and foreign currency deposit ratings of HDFC Bank and SBI to Baa3 from Baa2, as part of its ratings action on 11 Indian banks. It also placed long-term ratings of Bank of Baroda, Canara Bank, Bank of India and United Bank under review for downgrade. The actions come just a day after Moody's downgraded India's sovereign rating from 'Baa2' to 'Baa3', citing challenges in ...
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