Indian Overseas Bank gets revision in ratings for debt instruments

From CARE

Indian Overseas Bank announced that Credit Analysis and Research (CARE) has revised its ratings for Lower Tier II Bond (Series VIII), Lower Tier II Bond (Series X) and BASEL III compliant Tier I Perpetual Bond Issue as follows -

BASEL III compliant Tier I Perpetual Bond (Rs 1000 crore) CARE A- (revised from CARE A)

Lower Tier II Bond (Series VIII) (Rs 200 crore) CARE A+ (revised from CARE AA-)

Lower Tier II Bond (Series X) (Rs 300 crore) CARE A+ (revised from CARE AA-)

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