EXIM India proposed Senior Unsecured Notes assigned BBB- rating

SINGAPORE -Standard & Poor's has assigned its 'BBB-' long-term issue rating to a proposed issue of senior unsecured notes by the Export-Import Bank of India (EXIM India) and a BBB-/Stable/A-3) rating under its US$10 billion medium-term notes programme.

“The rating on the notes reflects the long-term counterparty credit rating on the bank,” S&P says.

“The proposed notes will constitute direct, unconditional, unsecured, and unsubordinated obligations of EXIM India. They will at all times rank at par among themselves and with all other unsecured obligations of the bank.”

S&P adds that its rating on the notes is subject to a review of the final issuance documentation. www.standardandpoors.com (ATI).