Fitch affirms ratings of PNB, BoB; outlook stable

New Delhi: Fitch Ratings on Wednesday affirmed ratings of two public sector banks -- Punjab National Bank (PNB) and Bank of Baroda (BoB) at ‘BBB-’ with a stable outlook. PNB and BoB’s long-term Issuer Default Rating (IDR) reflects Fitch’s expectation of a high probability of extraordinary state support for the bank, if required, the global rating agency said in two separate statements.