Ind-Ra assigns / reaffirms credit ratings on Indian Overseas Bank bonds

2 Mar 2022 , 10:14 AM

India Ratings & Research Limited (Ind-Ra) has assigned its rating as ‘Ind AA / Stable’ for the proposed issue of Rs800 crore Tier II Bonds (under Basel III) of Indian Overseas Bank and reaffirmed the rating as ‘Ind AA· /Stable’ for Basel III Tier II Bonds of Rs500 crore.

At around 10.15 am, Indian Overseas Bank was trading at Rs17.75 per piece up by Rs0.05 or 0.28% from its previous closing of Rs17.70 per piece on the BSE.

The scrip opened at Rs17.65 and has touched a high and low of Rs17.85 and Rs17.45 respectively.