REG - Axis Bank Ltd Axis Bank Ltd (144A) - MOODY’S INVESTORS SERVICE RATING ACTION

Axis BankAnnouncement

20/06/2022 14:45

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RNS Number : 5183P  Axis Bank Limited  20 June 2022

AXIS/CO/CS/148/2022-23

 

June 20, 2022

Dear Sir(s),

 

SUB.: MOODY'S INVESTORS SERVICE RATING ACTION.

 

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

 

This is to inform you that credit rating agency Moody's Investors Service
("Moody's") has affirmed the Baa3 deposit rating of Axis Bank Limited
("Bank"). At the same time Moody's has upgraded the Bank's baseline credit
assessments (BCA) to baa3 from ba1 reflecting improvements in credit
fundamentals, in particular asset quality.

 

Axis Bank Limited, GIFT City Branch's preferred stock non-cumulative bond
rating has been upgraded to Ba3(hyb) from B1(hyb), driven by the BCA upgrade.

 

The outlook on ratings for the Bank, where applicable, remains stable.

 

The rating rationale letter of Moody's is attached herewith.

http://www.rns-pdf.londonstockexchange.com/rns/5183P_1-2022-6-20.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/5183P_1-2022-6-20.pdf)

 

This is for your information and records.

 

Thanking you.

 

With warm regards,

 

For Axis Bank Limited

 

Sandeep Poddar

Company Secretary

 

Encl.: As above

 

 

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