Fitch Ratings has assigned India-based IDBI Bank (IDBI Bank; BBB-/Stable) USD 300 million senior unsecured notes due September 2019 a final rating of 'BBB-'.

This follows the completion of the securities issue and the receipt of final documents conforming to information previously received. The final rating is the same as the expected rating assigned on Mar. 19, 2014.

The notes, issued by the bank's Dubai branch, will be listed on the Singapore exchange.

The senior unsecured instruments are rated at the same level as the bank's Issuer Default Rating (IDR) because they will constitute direct, unconditional, unsubordinated and unsecured obligations of IDBI Bank. The securities will rank pari passu among themselves and with all other unsecured obligations (other than subordinated obligations) of the bank.

IDBI Bank's IDR is driven by its Support Rating Floor of 'BBB-', which is higher than its Viability Rating of 'bb', and reflects Fitch's expectation that the government of India would continue to have a high propensity to extend support to the bank, should there be a need.

Shares of the bank gained Rs 0.65, or 1.11%, to trade at Rs 58.95. The total volume of shares traded was 123,734 at the BSE (3.29 p.m., Friday).