New Delhi, Sept. 25 -- S&P Global Ratings on 24 September assigned 'BBB' long-term and 'A-2' short-term credit rating to Bank of Maharashtra (BOM), underlining the lender's growing stability and appeal to investors.

"Our ratings reflect extraordinary support from the government of India if needed. The long-term rating on BOM is one notch above our assessment of its stand-alone credit profile (SACP) as 'bbb-'. We see a very high likelihood that the government would provide the bank with timely and sufficient extraordinary support in the event of financial distress," the ratings agency said.

S&P's decision to assign a 'BBB' rating reflects confidence in the bank's ability to meet its financial commitments. The rating also signals to inves...