ICRA revises rating of IDFC Bank’s NCDs

Credit rating agency, ICRA has revised IDFC Bank’s rating for Non-convertible Debentures (NCDs) from ‘AAA’ (Stable) to ‘AA+’ (Stable). This revision reflects ICRA’s expectations that the bank’s profitability, even after the proposed merger with Capital First, would remain subdued in the near to medium term.

IDFC Bank is a universal bank, offering financial solutions through its nationwide branches, internet and mobile.