Axis Bank receives upward revision in credit rating

From S&P Global Ratings

Axis Bank announced that the credit rating agency S&P Global Ratings has revised upward its assessment of Axis Bank's stand-alone credit profile (SACP) to 'bbb+' from 'bbb'.

The long term and short-term ratings for the Bank have also been revised upward at BBB' and A-2' from BBB-and A-3', respectively.

The rating outlook has also been revised from positive' to stable'.

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