From CARE Ratings
Corporation Bank announced that CARE Ratings has revised the credit ratings of the Bank's debt instruments as below -Upper Tier II Bonds (Rs 850 crore) - CARE A1+ (placed on credit watch with developing implications)
Perpetual Bonds (Rs 500 crore) - CARE A+ (placed on credit watch with developing implications)
The above mentioned review in rating is based on Government of India announcement on the proposed amalgamation of Union Bank of India with Andhra Bank and Corporation Bank.
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