CRISIL has assigned its 'AA+/Stable' rating to the Rs.30.0-billion infrastructure bond issue of IDBI Bank and has reaffirmed its ratings on the bank's existing debt instruments at 'AA+/AA/AA-/FAAA/Stable/A1+'.

The ratings on IDBI Bank's debt instruments continue to reflect CRISIL's belief that the bank will continue to receive strong support from its majority owner, the Government of India (GoI), both on an ongoing basis and in the event of distress. The ratings also factor in the bank's established market position, supported by its large asset base and adequate capitalisation. These rating strengths are partially offset by IDBI Bank's modest asset quality and earnings profile, and average resource profile.

CRISIL believes that IDBI Bank will continue to receive strong support from GoI and will maintain its current scale of operations and market position, over the medium term. The outlook may be revised to 'Positive' if the bank significantly improves its resource and earnings profiles, without adversely affecting its asset quality. Conversely, the outlook may be revised to 'Negative' if there is a significant and sustained decline in IDBI Bank's asset quality and earnings profile.

Shares of the company gained Rs 0.4, or 0.55%, to trade at  Rs 73.40.  The total volume of shares traded  was  205,166 at the BSE (2.14 p.m., Wednesday).