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Indian Bank receives revision in bond ratings issued by erstwhile Allahabad Bank

Capital Market 

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

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First Published: Sat, October 31 2020. 12:50 IST