Indian Bank announced that Brickwork Ratings India has communicated about review of ratings of Bank's Tier 2 Bonds, issued by erstwhile
Allahabad Bank (e-AB).
The details are as under:
Tier 2 Bonds (Basel III) (Rs 500 crore) - BWR AAA/Stable (Revised from BWR A+ and removed from credit watch)
Tier 2 Bonds (Basel III) (Rs 1000 crore) - BWR AAA/Stable (Revised from BWR A+ and removed from credit watch)
The said e-AB Tier 2 Bonds became the outstanding Tier 2 Bonds of Indian Bank post amalgamation of Allahabad Bank into Indian Bank.
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