ICRA assigns LAAA rating to EXIM Bank's Rs 1500 cr bond prog

New Delhi, Mar 27 (UNI) Credit rating agency ICRA has assigned LAAA rating to the proposed Rs 15,00 crore Long-Term Bonds Programme of Export-Import Bank of India (EXIM Bank), indicating highest credit quality rating.

Currently, EXIM Bank has an outstanding ICRA rating of LAAA with stable outlook for its outstanding long-term bonds, MAAA rating for its Fixed Deposits and A1+ rating for the Short-Term Debt programme of EXIM Bank.

The ratings indicate highest credit quality. The rating takes into consideration the strategic role that EXIM Bank plays in meeting the GoI's policy objectives of promoting bilateral trade and exports of Indian products/services, besides the bank's favourable capital adequacy and capitalisation levels, improving asset quality indicators, and comfortable liquidity position.

The rating also factors in EXIM Bank's sovereign ownership and the support it continues to receive from the Government of India.

UNI SS SR RN1459