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On November 22, 2023, credit rating agency ICRA Limited assigned a new '[ICRA] AAA (Stable)' rating to Axis Bank Limited's Infrastructure Bonds amounting to Rs 5,000 crores. Concurrently, ICRA withdrew the rating for Axis Bank's Infrastructure Bonds with ISIN INE238A08401, also amounting to Rs 5,000 crores, due to their maturity. Ratings on Axis Bank's other debt instruments were reaffirmed.
| Date | 22 Nov 2023 |
| Time | 14:22:37 |
| Category | Miscellaneous |
| ID | 3634U |
AXIS/CO/CS/468/2023-24
November 22, 2023
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 assigned '[ICRA] AAA (Stable)' fresh ratings to Infrastructure Bonds of the Bank amounting to Rs 5,000 crores and has withdrawn rating to Infrastructure Bonds of the Bank bearing ISIN INE238A08401 amounting to Rs 5,000 crores on account of its maturity. Further, ratings on other debt instruments have been reaffirmed.
The rating rationale letter of ICRA Limited received by the Bank on November 22, 2023, is attached herewith.
http://www.rns-pdf.londonstockexchange.com/rns/3634U_1-2023-11-22.pdf
You are requested to take the above on record and bring this to the notice of all concerned.
Thanking you.
Yours sincerely,
For Axis Bank Limited
Sandeep Poddar
Company Secretary
Encl.: As above
CC: London Stock Exchange
Singapore Stock Exchange