Fraud hit-Punjab National Bank, SBI, 13 other lenders get Moody's counterparty risk ratings

Mumbai: Global ratings agency Moody's Investors Service on Tuesday gave counterparty risk ratings (CRR) to 15 lenders in the country, including fraud-hit Punjab National Bank and country's largest lender SBI.

Others who got the ratings include ICICI Bank, Axis Bank, Bank of Baroda and HDFC Bank, among others.

Representational image. Reuters.

Representational image. Reuters.

It said the CRR are opinions of the ability of entities to honour the uncollateralised portion of non-debt counterparty financial liabilities (CRR liabilities) and also reflect the expected financial losses in the event that such liabilities are not honoured.

The agency also upgraded the counterparty risk assessments of four banks, including PNB, ICICI Bank, Bank of Baroda and Axis Bank.

"The counterparty risk (CR) assessment of Punjab National Bank was upgraded to Baa3(cr)/P-3(cr) from Ba1(cr)/NP(cr)," a statement from the agency said.

Axis Bank, Bank of Baroda and ICICI Bank had their CR assessments upgraded to Baa2(cr)/P-2(cr) from Baa3(cr)/P-3(cr).

PNB in a statement today said, "Following the bank's strong recovery and the Government of India's continued support, Punjab National Bank (PNB) has been assigned counterparty risk rating (CRR) from Moody's Investors Service."

Updated Date: Jun 13, 2018 13:53 PM

Also Watch

Social Media Star: India’s top lifestyle bloggers share their trade secrets on the latest episode
  • Friday, July 27, 2018 First Day First Showsha — Reviewing Tom Cruise's Mission: Impossible - Fallout in 10 questions
  • Friday, August 10, 2018 It's a Wrap: Fanney Khan stars Anil Kapoor, Rajkummar Rao, Pihu Sand in conversation with Parul Sharma
  • Wednesday, August 15, 2018 Partition's real cost: Sonam Kalra revisits accounts of separation, loss in a spellbinding performance
  • Monday, August 13, 2018 Asian Games 2018: How Indian women's hockey team moved on from heartbreak at London World Cup

Also See