Union Bank of India receives ratings action from India Ratings

Union Bank of India announced that India Ratings and Research has assigned/ affirmed the ratings for the Bank's bonds as follows:

Long-term issuer rating - IND AA+/Stable (assigned)
Basel III ATI Perpetual Bonds (Rs 1500 crore) (yet to be issued)- IND AA/ Stable (assigned)
Basel III Tier II Bonds (Rs 5500 crore) - INDA AA+/ Stable (affirmed)
Basel III ATI Perpetual Bonds (Rs 6750 crore) - IND AA/ Stable (affirmed)

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