Syndicate Bank gets downgrade in ratings for Bonds programme

From ICRA

Syndicate Bank announced that ICRA has downgraded the rating of the Bank's Basel III Compliant Tier II Bonds programme to ICRA AA (hyb) [pronounced as ICRA double A hybrid] from ICRA AA+ (hyb) [pronounced as ICRA double A plus hybrid]. The outlook on the long term rating is Negative.

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