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Central Bank of India receives ratings for its Tier II Bonds

Capital Market 

From Acuite Ratings & Research

Central Bank of India announced that Acuite Ratings & Research has assigned Acuite AA-; Stable rating for the bank's Basel III Tier II Bonds.

The rating takes into account the strong ownership and demonstrated capital support from the Bonds Government of India. Acuite believes that the Government of India will continue to provide significant support to large public sector banks like Central Bank of India which plays a critical role in penetration of financial services and social development. The rating further factors in the improvement in capitalization levels, healthy retail liability profile and its large franchise with pan India presence.

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

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First Published: Tue, February 23 2021. 18:09 IST