Moody’s assigns Baa2 rating to RBL Bank, 1st for lender
Moody's assigned RBL Bank a first-time Baa2 long-term issuer and deposit rating, one notch above India's Baa3 sovereign rating, with a stable outlook.
The rating reflects expected support from majority shareholder Emirates NBD Bank, which acquired a 60% controlling stake in RBL in June for Rs 26,000 crore.
Emirates NBD's investment was the largest foreign direct investment in an Indian bank at the time.
Moody's applied a two-notch uplift over RBL Bank's standalone credit profile due to support expectations from Emirates NBD.
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