The bank has signed a Memorandum of Understanding (MoU) with ICRA, and Fitch on Thursday, D&B on Wednesday, the bank said. Meanwhile ICRA said it has entered into an agreement with Corporation Bank to assign ratings to the bank’s loans and other exposures.
According to the MoU, ICRA would assign ratings to the bank’s loans and its other exposures under the standardised approach of RBI’s New Capital Adequacy Framework for Basel-II. The ratings would be carried out under its ‘Line of Credit’ rating service and would enable Corporation Bank to assign the new risk weights applicable to its borrowers under Basel-II.
