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On October 1, 2024, Axis Bank Limited announced that credit rating agency India Ratings and Research affirmed ratings for various instruments. This included affirming the Long-Term Issuer Rating and Fixed Deposits at IND AAA; Stable, Basel-III compliant Tier 2 bonds (Rs. 220.00 billion) and Infrastructure bonds (Rs. 100.00 billion) at IND AAA; Stable, and Basel III AT1 bonds (Rs. 35.00 billion) at IND AA+; Stable.
| Date | 1 Oct 2024 |
| Time | 17:38:17 |
| Category | Miscellaneous |
| ID | 5366G |
Dear Sir/Madam,
|
SUB: |
RATING ACTION BY INDIA RATINGS AND RESEARCH |
|
REF: |
REGULATION 30 READ WITH SCHEDULE III OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015
|
This is to inform you that credit rating agency India Ratings and Research has affirmed rating for various instruments of Axis Bank Limited ("the Bank"), as under.
|
Sr. No. |
Facilities/Instruments |
Amount (Rs. billion) |
Rating |
Rating Action |
|
1 |
Long-Term Issuer Rating |
- |
IND AAA; Stable |
Affirmed |
|
2 |
Fixed deposits (FD) |
- |
IND AAA; Stable |
Affirmed |
|
3 |
Basel-III compliant Tier 2 bonds |
220.00 |
IND AAA; Stable |
Affirmed |
|
4 |
Infrastructure bonds^ |
100.00 |
IND AAA; Stable |
Affirmed |
|
5 |
Basel III AT1 bonds ^ |
35.00 |
IND AA+; Stable |
Affirmed |
^ Yet to be issued
The rating rationale letter of India Ratings and Research received by the Bank via email on October 1, 2024 is attached herewith.
http://www.rns-pdf.londonstockexchange.com/rns/5366G_1-2024-10-1.pdf
This is for your information and records.
Thanking you.
Yours faithfully,
For Axis Bank Limited
Sandeep Poddar
Company Secretary
Encl.: As above
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