IDFC FIRST Bank has reached a major milestone in its progress towards growth and global expansion by obtaining its international investment-grade credit rating from S&P Global Ratings; it has been given a 'BBB-' rating for its long-term obligations and an 'A-3' rating for its short-term obligations, together with a Stable Outlook.

The rating is a significant acknowledgement of the bank's financial fundamentals and of its progress in the various areas of its business; it also constitutes a strategic move in order to take a more active role in international financial markets and enhances IDFC FIRST Bank's capacity to interact with global financial institutions.

The rating offers additional confirmation of the financial strength of the banking franchise and at the same time creates new opportunities for international financing and for cross-border banking arrangements.

A Strategic Gateway to Global Financial Markets

The importance of the S&P rating extends beyond that of a measure of credit quality since it is likely to help IDFC FIRST Bank gain access to international funding markets and improve its ability to obtain funding in foreign currencies.

The rating can also enable the bank to strengthen its relationships within the field of correspondent banking and in the area of cross-border trade finance, allowing it to increase its involvement with financial institutions outside India.

The fact that established banks are able to gain access to international funding markets gives them more flexibility when it comes to meeting their funding needs and in supporting business opportunities. For IDFC FIRST Bank this development is in keeping with its........

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