OREANDA-NEWS. Fitch Plans to Withdraw Ratings of Indian Bank Singapore Fitch Ratings plans to withdraw the ratings on Indian Bank on or about, 8 August 2016, which is approximately 30 days from the date of this non-rating action commentary for commercial reasons.

Fitch currently rates Indian Bank as follows:

-- Long-Term Issuer Default Rating (IDR) at 'BB+'; Outlook Stable;

-- Short-Term IDR at 'B'

-- Viability Rating at 'bb+'

-- Support Rating at '3'

-- Support Rating floor at 'BB+'

Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Fitch believes that investors benefit from increased rating coverage by Fitch and is providing approximately 30 days' notice to the market of the rating withdrawal of Indian Bank. Ratings are subject to analytical review and may change up to the time Fitch withdraws the ratings.

Fitch's last rating action for the above referenced entity was on 5 July 2016. The ratings were affirmed.