Fitch Ratings has affirmed Canara Bank's Viability Rating at 'bb-' following the announcement that India's government plans to merge the state bank with another southern mid-sized state bank, Syndicate Bank.
Fitch has concurrently affirmed Canara's Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, Support Rating at '2' and Support Rating Floor at 'BBB-'. A full list of rating actions is at the end of this rating action commentary.
Fitch has concurrently affirmed Canara's Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, Support Rating at '2' and Support Rating Floor at 'BBB-'. A full list of rating actions is at the end of this rating action commentary.
