Tuesday , 14 July 2020
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Moody’s downgrades AXIS Bank’s outlook to negative

Moody’s downgrades AXIS Bank’s outlook to negative

The credit rating agency — Moody’s Investors Service has revised the outlook for AXIS Bank from stable to negative. Further, it has downgraded the counterparty risk assessments of the Bank to Baa3(cr)/P-3(cr) from Baa2(cr)/P-2(cr), and the local currency counterparty risk rating of the Bank to Baa3/P-3 from Baa2/P-2.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

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