Question
Moody’s upgraded ICICI Bank and Axis Bank’s baseline credit assessments (BC
- A to _______.
Solution
Global rating agency Moody’s upgraded ICICI Bank and Axis Bank’s baseline credit assessments (BCA) to “baa3” indicating medium grade financial strength from “ba1” indicating speculative financial strength. The upgrade in BCA reflects improvements in credit fundamentals - asset quality, capital, and profitability.
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