Canara Bank announced that CARE Ratings has revised/upgraded the rating of Bank's Additional Tier I Bonds (Basel III) to 'CARE AA+; Stable'. Care Ratings has also reaffirmed its rating on Bank's Tier II Bonds (Basel III) to CARE AAA; Stable. The instrument-wise rating is as under:
Tier II Bonds (Basel III) (Rs 3000 crore) - CARE AAA; Stable (reaffirmed)
Tier II Bonds (Basel III) (Rs 4,400 crore) - CARE AAA; Stable (reaffirmed)
Additional Tier I Bonds (Basel III) (Rs 1,450 crore) - CARE AA+; Stable (revised from CARE AA; Stable)
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