Standard & Poor's Ratings Services assigned its 'BBB-' long-term issue rating to a proposed issue of senior unsecured notes by Export-Import Bank of India (EXIM India: BBB-/Negative/A-3).

The rating on the notes reflects the long-term counterparty credit rating on the bank. The notes are drawn down under EXIM India's USD 6 billion medium-term notes program.

The proposed notes will constitute direct, unconditional, unsecured, and unsubordinated obligations of EXIM India. They shall at all times rank at par among themselves and with all other unsecured obligations of the bank.