Moody’s Investors Services on Thursday said it was reviewing ratings for ICICI Bank, Axis Bank and HDFC Bank for a possible downgrade, following a change in its rating methodology. The agency, clarified however, that the debt and deposit ratings for these private sector lenders remained unaffected. In another statement, Moody’s indicated there was a chance of state-owned Life Insurance Corporation (LIC) being downgraded given the insurer’s direct exposure to Indian sovereign risk in terms of its investment portfolio and business profile.