ICRA reaffirms rating of DCB Bank bonds at ICRA A+ (Stable); Stock slumps 4.5%

22 Feb 2022 , 12:12 PM

ICRA Limited (ICRA) has reaffirmed various ratings of DCB Bank Limited. The credit rating agency has reaffirmed its Credit Rating at ICRA A+(Stable) for the Basel III Complaint Tier II Bonds Programme of Rs313.40 crore (inclusive of Rs300 crore issued to date).

The credit rating agency has also reaffirmed ICRA A1+ rating on the short-term fixed deposit programme of the Bank. Further, ICRA has reaffirmed and withdrawn the rating of [ICRA] A+(Stable) on bonds amounting to Rs,236.60 crore, on which the Bank has exercised the call option and redeemed the rated amounts on December 27, 2021.

Ata round 12.15 pm, DCB Bank Ltd was trading at Rs74.70 per piece down by Rs3.5 or 4.48% from its previous closing of Rs78.20 per piece on the BSE.