REG - Axis Bank Ltd - Credit Rating

Axis BankAnnouncement

21/11/2022 17:15

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RNS Number : 1173H  Axis Bank Limited  21 November 2022

AXIS/CO/CS/407/2022-23

 

November 21, 2022

 

Dear Sir(s),

 

SUB: RATING ACTION BY S&P GLOBAL RATINGS FOR AXIS BANK LIMITED ("BANK")

 

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

 

This is to inform you that credit rating agency S&P Global Ratings has
upgraded its long-term and short-term issuer credit rating of the Bank to
'BBB-/A-3' from 'BB+/B'. The outlook on the long-term rating is stable.

 

S&P Global Ratings has also upgraded the long-term issue rating on the
Bank's senior unsecured notes to 'BBB-' from 'BB+'.

 

The rating rationale letter received from S&P Global Ratings is attached
herewith.

 

This is for your information and records.

 

Thanking you.

 

Yours sincerely,

For Axis Bank Limited

 

 

 

Sandeep Poddar

Company Secretary

 

Encl.: As above

 

http://www.rns-pdf.londonstockexchange.com/rns/1173H_1-2022-11-21.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/1173H_1-2022-11-21.pdf)

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