Punjab & Sind Bank receives reaffirmation in ratings of Tier II Bonds

Punjab & Sind Bank announced that CRISIL has reaffirmed the rating of Tier II Bonds of the Bank as detailed below:

Rs 500 crore Tier II Bonds (under Basel III) - CRISIL AA/ Negative (reaffirmed)

Rs 500 crore Tier II Bonds (under Basel III) - CRISIL AA/ Negative (reaffirmed)

Lower Tier II Bonds aggregating Rs 200 crore (under Basel II) - CRISIL AA/ Negative (reaffirmed)

Further, CRISIL has also withdrawn its rating on Lower Tier II bonds aggregating to Rs 200 crore on account of redemption.

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