Indian Overseas Bank receives reaffirmation in credit ratings from CRISIL

Indian Overseas Bank has received reaffirmation in credit ratings as follows -

Tier II Bonds (under Basel III) (Rs 1900 crore) - CRISIL A+/Stable (reaffirmed)

Lower Tier II Bonds (under Basel II) (Rs 1000 crore) - CRISIL A+/Stable (reaffirmed)

Upper Tier II Bonds (under Basel II) (Rs 967 crore) - CRISIL A-/Stable (reaffirmed)

Certificate of Deposits Programme - CRISIL A1+ (reaffirmed)

Fixed Deposit Programme (Rs 200000 crore) - FAA/Stable (reaffirmed)

CRISILhas withdrawn its rating on Lower Tier II Bonds (Rs.290 crore) , Upper Tier II Bonds (Rs.510 crore) and Perpetual Bonds (Rs.300 crore) as the outstanding against these is Nil.

 

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