REG - Axis Bank Ltd Axis Bank Ltd (144A) - Credit Rating

Axis BankAnnouncement

01/06/2022 18:15

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RNS Number : 6511N  Axis Bank Limited  01 June 2022

AXIS/CO/CS/114/2022-23

June 1, 2022

 

Dear Sir(s),

SUB: RATING ACTION BY ICRA LIMITED.

 

REF: REGULATION 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE
REQUIREMENTS) REGULATIONS, 2015 ("LISTING REGULATIONS").

 

This is to inform you that credit rating agency ICRA Limited has migrated the
rating currently outstanding for the fixed deposits programme of Axis Bank
Limited ("the Bank") from the medium-term rating scale to the long-term rating
scale. The migration of the rating has resulted in a change in the rating
symbol, however, this is to be construed only as a recalibration of the rating
from one scale to another and not as a reflection of a change in the credit
risk of the fixed deposit programme.

 

Summary of the rating action is as follows:

 

 Instrument                       Previous Rated Amount  Current Rated Amount  Rating Action

                                  (Rs. crore)            (Rs. crore)
 Fixed Deposit                    -                      -                      ICRA AAA (Stable); migrated from MAAA (Stable)
 Infrastructure Bonds/Debentures  29,705.00              29,705.00              ICRA AAA (Stable); outstanding
 Basel III Tier II Bonds          16,350.00              16,350.00              ICRA AAA (Stable); outstanding
 Basel II Lower Tier II Bonds     4,425.00               4,425.00               ICRA AAA (Stable); outstanding
 Basel III Tier I Bonds           9,500.00               9,500.00               ICRA AA+ (Stable); outstanding
 Certificates of Deposit          60,000.00              60,000.00              ICRA A1+; outstanding
  Total                           1,19,980.00            1,19,980.00

The rating rationale letter of ICRA Limited is attached herewith.

 

This is for your information and records.

 

Thanking you.

 

With warm regards,

 

For Axis Bank Limited

 

 

 

Sandeep Poddar

Company Secretary

 

http://www.rns-pdf.londonstockexchange.com/rns/6511N_1-2022-6-1.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/6511N_1-2022-6-1.pdf)

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