Fitch rates India Bank of Tokyo-Mitsubishi F1+(ind)

Fitch Ratings said it assigned the Indian branch of Bank of Tokyo-Mitsubishi UFJ a national short-term rating of F1+(ind), along with an F1+(ind) rating to its Rs.2.5 billion certificate of deposits program.

The India branch is part of the same legal entity as Bank of Tokyo-Mitsubishi, Fitch said, and its rating is linked to that of the international bank.

The short-term rating also factors in the strong support from its parent as demonstrated through past capital infusions, the agency said. Liquidity is supported by unutilized interbank lines that are adequate to cover the rated short-term debt program, Fitch said.

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