Moodys revises ratings of IOB

Indian Overseas Bank has announced regarding the revision in ratings by the rating agency M/s. Moody's Investors Service.

The International Credit rating agency M/s. Moody's Investors Service, Singapore, has affirmed the bank's deposit ratings and downgraded the baseline credit assessment to b3 and changed outlook to negative from stable.

The downgrade of IOB's baseline credit assessment to b3 reflects the significant deterioration in the Bank's asset quality and continued weakness in its profitability and capital position.

Shares of INDIAN OVERSEAS BANK was last trading in BSE at Rs.30.95 as compared to the previous close of Rs. 30.55. The total number of shares traded during the day was 45941 in over 367 trades.

The stock hit an intraday high of Rs. 31.05 and intraday low of 30.75. The net turnover during the day was Rs. 1421593.

Source : Equity Bulls

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