ICRA Limited has reaffirmed the credit rating of Karur Vysya Bank
, the company said in a regulatory filing on Wednesday. The credit rating agency has reaffirmed A1+ rating on the company’s Certificate Deposits Programme. It has also reaffirmed ICRA A (hyb) / Stable rating on Basel III Tier II Bonds.
As per ICRA ratings, schedule instruments with this rating of ICA A1+ are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk.
ICRA A (hYb)/ Stable ratings are considered to have adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk.
Karur Vysya Bank Ltd ended at Rs56.80 per piece down by Rs1.35 or 2.32% from its previous closing of Rs58.15 per piece on the BSE.