Global rating agency S&P Global Ratings assigned IDFC FIRST Bank its inaugural international investment-grade issuer credit ratings of 'BBB-' long-term and 'A-3' short-term, with a Stable Outlook. The rating assignment marks a significant institutional milestone for the private sector lender as it looks to strengthen its global standing and expand its international financial operations.
According to the bank, the investment-grade rating is expected to enhance its standing with global investors and financial institutions, support access to international funding markets, facilitate Standby Letter of Credit lines, and strengthen foreign currency funding at its GIFT City International Banking Unit.
