Citing Covid disruptions, Moody's cuts ratings of SBI, HDFC Bank
Mumbai, June 3 -- Moody's Investors Service on Tuesday downgraded the ratings of state-run State Bank of India and India's largest private lender HDFC Bank Ltd, a day after it cut the country's sovereign rating to the lowest investment status. The US rating agency cited disruptions from the coronavirus outbreak and a fall in asset prices, creating severe credit shocks across sectors and weakening borrowers' credit profiles for its rating action....
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