Allahabad Bank gets ratings downgrade for bonds

From CRISIL

Allahabad Bank announced that CRISIL has downgraded its ratings on the bank's Lower Tier II Bonds (Under Basel II) and Tier II Bonds (under Basel III) to CRISIL AA-/ Negative from CRISIL AA/ Negative, Tier I - Perpetual Bonds and Upper Tier II Bonds (hybrid instruments under Basel II) to CRISIL A+/ Negative from CRISIL AA-/ Negative, and Tier I bond issue (under Basel III) to CRISIL A-/ Negative from CRISIL A/ Negative.

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