17 Feb 2022 , 01:43 PM
Brickwork Ratings withdraws BWR AA-/Stable rating for the Tier II bonds (under Basel III) of Rs500 crore of Indian Overseas Bank.
Brickwork Ratings (BWR) withdraws the rating at the request of the bank as there is no amount raised under the said rated issues and neither the bank intends to raise any amount under the said issue in future.
As per rationale report, the rating withdrawal is in line with extant regulatory guidelines and BWR’s rating withdrawal policy.
On Thursday, at around 1:44 PM, Indian Overseas Bank was trading at Rs19.55 apiece down by Rs0.05 or 0.26% on the BSE.
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