Lakshmi Vilas Bank announced that CARE Ratings (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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