CRISIL places IDBI Bank debt on Watch Positive
IDBI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.4 pts less than Nifty Smallcap 250 and 0.4 pts less than its Private Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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CRISIL put IDBI Bank's long-term debt on AA with Watch Positive, covering Rs 10,000 crore infrastructure bonds and Rs 3,100 crore Tier II bonds. It reaffirmed A1+ on Rs 40,000 crore of certificates of deposit and withdrew ratings on Rs 5 crore of redeemed Omni Bonds. The move follows Fairfax's proposed 60.72% stake purchase at Rs 81 per share. CRISIL cited improving asset quality, with gross NPAs at 2.1%, and capital adequacy of 27.1%.
Positive watch signals stronger credit prospects after Fairfax's proposed entry, supporting growth and lower funding risk, subject to approvals.