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Fitch affirms ratings of Export-Import Bank of India

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Fitch affirms ratings of Export-Import Bank of India

Fitch Ratings affirmed the long-term issuer default ratingof Export-Import Bank ofIndia at BBB-, with a stable outlook.

Fitch also said May 4 that it affirmed the bank's short-termissuer default rating at F3.

The bank's ratings are equalized with that of the Indiansovereign given its key policy role of financing and promoting India's foreigntrade. The government also provides liquidity support to Export-Import Bank ofIndia.

The bank's rating would move in tandem with the sovereign'srating. Any weakening of the linkages between the bank and the sovereign couldlead to the rating agency downgrading its rating on the bank.