Ind-Ra reaffirms Karur Vysya Bank's credit rating for Basel III Tier II Bonds

8 Feb 2022 , 10:41 AM

In its regulatory filing on Tuesday, Karur Vysya Bank Ltd. informed that exchanges that India Ratings & Research Limited, a credit rating agency has reaffirmed the credit rating for its Basel lll Tier ll Bonds worth Rs 487 Cr.

Earlier, Ind-Ra has given ‘IND A+’ rating to its bonds worth Rs 487 crore and has given a stable outlook for such bonds. The agency has reaffirmed such rating and made no changes in its outlook for bank’s bonds.

Karur Vysya is a Scheduled Commercial Bank in India with over 100 years of operation is headquartered in Karur in Tamil Nadu. It is one of the leading Banks in India.

At around 10.30 am, Karur Vysya was trading at Rs 52.80, down by Rs 1.80 or 3.30% against its previous closing price of Rs 54.60. It touched day’s high and low of Rs 55.30 and Rs 52.60 respectively.