ICRA reaffirms Axis Bank's credit ratings

ICRA Limited has reaffirmed [ICRA]AAA (Stable) for Infrastructure Bonds/Debentures.

Feb 22, 2021 10:02 IST India Infoline News Service

Axis Bank Limited, an Indian private sector bank has informed about the revised credit ratings assigned by the credit rating agency, ICRA.

ICRA Limited has reaffirmed [ICRA]AAA (Stable) for Infrastructure Bonds/Debentures;
  • [ICRA]AAA(hyb)(Stable) for Basel III Compliant Tier II Bonds and Lower Tier II Bonds;
  • [ICRA]AA+(hyb)(Stable) for Basel III Compliant Tier I Bonds;
  • [ICRA]A1+ for Certificates of Deposit and MAAA(Stable) for Fixed Deposit.

The Stable outlook on the ratings reflect ICRA’s opinion.

The bank will continue to maintain its strong capital and solvency position along with its strong position in the Indian banking sector with a consistent improvement in its customer franchise and an expected improvement in its profitability.

Axis Bank Ltd was currently trading at Rs744 per piece down by Rs5.35 or 0.71% from its previous closing of Rs749.35 per piece on the BSE, at around 10:25 AM

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