Bank of Maharashtra Receives Rating Upgrade from Fitch; Long-Term IDR Affirmed at BBB

Pune: Bank of Maharashtra has announced affirmation and upgrade of multiple credit ratings by Fitch Ratings, reflecting continued improvement in its credit profile.

As per the regulatory filing under SEBI (LODR) Regulations, 2015, Fitch has affirmed the Bank’s Long-Term Issuer Default Rating (IDR) at ‘BBB’ with Stable Outlook, while upgrading certain standalone and international scale ratings.

Key Rating Actions (Verified on March 2, 2026):

• Government Support Rating: ‘bbb’ – Affirmed

• Long-Term IDR: ‘BBB’ – Stable – Affirmed

• Long-Term IDR (xgs): ‘BB (xgs)’ – Upgraded

• Short-Term IDR: ‘F3’ – Affirmed

• Short-Term IDR (xgs): ‘B (xgs)’ – Affirmed

• Viability Rating: ‘bb’ – Upgraded

The upgrade in the Viability Rating indicates strengthening of the bank’s standalone financial profile, while the affirmation of the Long-Term IDR at investment-grade ‘BBB’ reflects stability supported by sovereign backing and improving fundamentals.

The bank has also enclosed the detailed rating rationale issued by Fitch Ratings for investor reference.