Exim bank affirmed IND AAA
The Outlook is Stable! India Ratings and Research (Ind-Ra) has affirmed Export-Import Bank of India’s (EXIM) Long-Term Issuer Rating at ‘IND AAA’. The Outlook is Stable. The instrument-wise rating action is as follows: Support from GoI: The affirmation reflects Ind-Ra’s expectation of a high probability of continued timely support to EXIM from the government of India (GoI). EXIM, which is wholly owned by the GoI, acts as an agent of the GoI by extending lines of credit to various economies (mostly developing) as per the GoI’s directives. The GoI appoints EXIM’s board of directors according to the statutes of the Export-Import Bank of India Act, 1981, under which the latter was established. EXIM’s board has representation from the ministries of finance, commerce and industry, and external affairs. Bank’s Export Facilitation Role: EXIM’s policy objectives include facilitating export credit and developing export-generation capabilities among Indian companies, thereb