S&P affirms HDFC Bank rating

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April 19, 2020 1:30 AM

S&P Global Ratings on Saturday affirmed HDFC Bank’s issuer credit rating at BBB-/Stable/A-3 and senior unsecured rating at BBB-, adding that the lender’s rating will move in tandem with that of the sovereign.

The bank's asset quality remains among the best in the Indian banking industry due to its better risk management and portfolio diversity.The bank’s asset quality remains among the best in the Indian banking industry due to its better risk management and portfolio diversity.

S&P Global Ratings on Saturday affirmed HDFC Bank’s issuer credit rating at BBB-/Stable/A-3 and senior unsecured rating at BBB-, adding that the lender’s rating will move in tandem with that of the sovereign.

“We affirmed the rating on HDFC Bank Ltd to reflect the bank’s strong business franchise and better funding and liquidity profile than industry peers,” S&P analysts wrote, adding that HDFC Bank’s capitalisation is comfortable, supported by strong earnings and regular capital raising to fund above-average growth.

The bank’s asset quality remains among the best in the Indian banking industry due to its better risk management and portfolio diversity.

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