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Andhra Bank gets revision in credit ratings from CARE

Capital Market 

Andhra Bank announced that CARE has placed the credit rating for outstanding lower tier II bonds, lower tier II bonds, long term bonds, tier II bonds (Basel III), tier 1 perpetual bonds (Basel III) and certificate of deposit programme on 'credit watch with developing implications.

The above mentioned rating action is based on Ministry of Finance, Govt. of India proposal for amalgamation of Andhra Bank and Corporation Bank with Union Bank of India.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 13 2019. 15:16 IST