Fitch Ratings has placed a BBB-(EXP) rating on Export-Import Bank of India's proposed senior unsecured notes, according to a Sunday release.

The proposed notes' rating is similar to the bank's issuer default rating, with actions on the latter also triggering similar movements for the notes, Fitch said.

Meanwhile, the bank's rating and outlook align with India's sovereign rating, given the high likelihood of government support if needed.

The bank has a high strategic and policy institution role for the state and is wholly government-owned.

The bank's creditors also have substantial buffers due to access to liquidity from authorities, Fitch said.