Federal Bank Receives Its First International Investment Grade Issuer Rating From S&P Global Ratings
BusinessWire India
Mumbai (Maharashtra) [India], July 10: Federal Bank today announced that S&P Global Ratings has assigned the Bank its inaugural international issuer credit ratings of BBB-/Stable for the long-term and A-3 for the short-term.
The assignment of the BBB- long-term issuer credit rating places Federal Bank in the global investment-grade category and marks an important milestone in the Bank's evolution. It is the first international issuer credit rating assigned to the Bank by S&P Global Ratings.
The rating reflects an independent assessment of Federal Bank's credit profile and underscores the strength of its franchise, disciplined risk management, sound capitalisation, diversified funding profile, liquidity position and consistent financial performance.
As one of India's leading private sector banks, Federal Bank has, over the years, strengthened its balance sheet, enhanced the quality of its liabilities, maintained healthy capital buffers, improved profitability and continued to invest in technology and customer experience. The investment-grade rating reflects the progress the Bank has made in building a resilient and sustainable banking franchise.
The rating is expected to further strengthen Federal Bank's visibility among global investors and international financial institutions, while reinforcing confidence among customers, counterparties and other stakeholders.
Commenting on the rating, Mr. KVS Manian, Managing Director & CEO, Federal Bank, said:
"Our inaugural international investment-grade issuer rating from S&P Global Ratings is an important milestone for Federal Bank. It reflects the strength of our franchise, the resilience of our business model and the disciplined approach we have adopted towards growth, risk management and governance.
This recognition comes at a defining phase in the Bank's journey as we continue to build a future-ready institution with a sharp focus on customer excellence, sustainable growth and long-term value creation. We remain committed to maintaining strong financial fundamentals while pursuing growth opportunities across our chosen segments."
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