Bank of Maharashtra — Credit Ratings, 07-11-2024: Credit Rating

Infomerics Valuation and Ratings has reaffirmed the ratings for Bank of Maharashtra's Basel III compliant securities. The Tier II Bonds received a rating of IVR AA+/Stable, while the Additional Tier I Bonds were rated IVR AA/Stable. The ratings reflect the bank's strong sovereign support, adequate capitalization, and substantial improvement in asset quality. However, challenges remain due to its moderate size and geographic concentration. The outlook is expected to remain stable based on anticipated government support and continued growth.