INDUSINDBK

jumped nearly 2 percent on August 25 after CRISIL Ratings reaffirmed its 'AA+' rating on the private lender's long term debt instruments. The rise in the share price comes despite the stock being scheduled to exit the Nifty 50 index as part of the latest rejig. In a note dated August 23, CRISIL Ratings reaffirmed the 'AA+' rating on the long term debt instruments, while assigning a 'Negative' outlook. It removed its rating on the long-term debt instruments of IndusInd Bank from 'Rating Watch with Negative Implications'. CRISIL also reaffirmed its 'A1+' rating on the short-term debt instruments of the company. The ratings agency had placed the long term rating of IndusInd's debt instruments on 'Watch Negative' on May 7, after "the resignation of top two managerial personnel as well as disclosure of a review being conducted on the bank’s microfinance business by an internal audit department to examine few concerns, brought to attention during finalisation of accounts".