Moody's change two Indian banks’ ratings to negative

LONDON: Moody’s Investor Services have today changed the outlook on the two Indian banks—Oriental Bank of Commerce and Syndicate Banking ratings to negative from stable.Moody Investors Service report said that the Indian Oriental Bank of Commerce rating has been changed to negative from stable, while the bank’s financial strength rated D+ and the rating of foreign currency accounts changed to A3-P1. Besides, Indian Syndicate Bank’s rating has also been changed to negative from stable, while Bank’s foreign currency accounts’ rating changed to BA2, which is even less than the prime rating.