S&P to review documents
S&P Global Ratings has assigned its ‘BBB-‘ long-term issue rating to a proposed benchmark size issue of U.S. dollar senior unsecured notes by Export-Import Bank of India (India EXIM: BBB-/Stable/A-3) under the bank’s US$10 billion medium-term note program.
The rating on the notes reflects the long-term issuer credit rating on India EXIM, said S&P on 29 July 2019.
The proposed notes will constitute direct, unconditional, unsecured, and unsubordinated obligations of India EXIM.
They shall at all times rank equally among themselves and with all other unsecured obligations of the entity, said S&P.
The rating on the notes is subject to S&P review of the final issuance documentation. fiinews.com