Corporation Bank gets revision in credit ratings from Brickwork Ratings

Corporation Bank announced that Brickwork Ratings India has reviewed the credit ratings of the Bank's debt instrument as below -

Proposed fresh issue of Basel III Tier II Bonds (Rs 1000 crore) - BWR AA; Negative (Assigned)

Upper Tier II Bonds (Rs 500 crore) - BWR AA-; Negative (Reaffirmed)

Innovative Perpetual Debt Instrument (Rs 300 crore) - BWR AA-; Negative (Reaffirmed)

Basel III Tier II Bonds (Rs 500 crore) - BWR AA; Negative (Reaffirmed)

Basel III Tier II Bonds (Rs 200 crore) - Withdrawal of rating due to not raising the amount.

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