Punjab & Sind Bank receives downgrade in ratings for bonds

From CARE

Punjab & Sind Bank announced that CARE has downgraded the rating of the bonds issued by the bank on 06 October 2020 as detailed below:

Lower Tier II Bonds (Rs 300 crore) - CARE AA-; Negative (revised from CARE AA; Negative)

Basel III Compliant Tier II Bonds (Rs 500 crore) - CARE AA-; Negative (revised from CARE AA; Negative)

Basel III Compliant Tier II Bonds (Rs 237.30 crore) - CARE AA-; Negative (revised from CARE AA; Negative)

Basel III Compliant Tier II Bonds (Rs 500 crore) - CARE AA-; Negative (revised from CARE AA; Negative)

Basel III Compliant Tier I Bonds (Rs 1000 crore) - CARE A; Negative (revised from CARE A+; Negative)

 

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