Credit Rating

S&P Global Ratings has assigned a 'BBB' long-term issue rating to the U.S. dollar-denominated senior unsecured notes that Bank of Baroda's GIFT City branch proposes to issue. This rating is equalized with the bank's existing issuer credit rating of 'BBB/Stable/A-2', signifying that the new notes will rank equally with its other senior unsecured obligations. The issuance will be drawn from the bank's existing US$4 billion medium-term note program. This announcement confirms the credit quality of the bank's upcoming international debt issuance.