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Lakshmi Vilas Bank announces ratings action from CARE

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announced that (CARE) has assigned rating of CARE BB (Double B) (Credit watch with developing implications) to the proposed Basel III compliant additional Tier I Perpetual Bond issue of the Bank.

CARE had also revised the rating from "CARE BBB" (Triple B; Credit Watch with negative implications) to "CARE BBB" (Triple B; Credit Watch with developing implications) for our Unsecured Redeemable Non-Convertible Subordinated Lower Tier II Bonds - Series VII (Option B), VIII, IX, X of Rs.50.50 crores, Rs.78.10 crores, Rs.140.10 crores and Rs.100 crores respectively.

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

First Published: Sat, April 13 2019. 14:09 IST