Moody's assigns 'Ba3' rating to HDFC Bank's AT1 dollar-denominated bonds

Rating agency Moody's has assigned “Ba3” rating to country's largest private lender HDFC Bank's dollar-denominated Additional Tier 1 (AT1) capital bonds. This would be the bank's maiden AT1 bonds offering in the international market to raise debt capital.

Country's largest lender State Bank of India has already raised capital through AT1 bonds from global markets.

The bank’s total Capital Adequacy Ratio (CAR) stood at 19.1 per cent as on June 30, 2021 (18.9 per cent as on June 30, 2020). Its tier 1 capital stood at 17.9 per cent in June 2021 (17.5 per cent in June 2020). The Common Equity Tier