1 Jun 2022 18:01
AXIS/CO/CS/114/2022-23
June 1, 2022
Dear Sir(s),
SUB: RATING ACTION BY ICRA LIMITED.
REF: REGULATION 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ("LISTING REGULATIONS").
This is to inform you that credit rating agency ICRA Limited has migrated the rating currently outstanding for the fixed deposits programme of Axis Bank Limited ("the Bank") from the medium-term rating scale to the long-term rating scale. The migration of the rating has resulted in a change in the rating symbol, however, this is to be construed only as a recalibration of the rating from one scale to another and not as a reflection of a change in the credit risk of the fixed deposit programme.
Summary of the rating action is as follows:
Instrument | Previous Rated Amount (Rs. crore) | Current Rated Amount (Rs. crore) | Rating Action |
Fixed Deposit | - | - | [ICRA]AAA (Stable); migrated from MAAA (Stable) |
Infrastructure Bonds/Debentures | 29,705.00 | 29,705.00 | [ICRA]AAA (Stable); outstanding |
Basel III Tier II Bonds | 16,350.00 | 16,350.00 | [ICRA]AAA (Stable); outstanding |
Basel II Lower Tier II Bonds | 4,425.00 | 4,425.00 | [ICRA]AAA (Stable); outstanding |
Basel III Tier I Bonds | 9,500.00 | 9,500.00 | [ICRA]AA+ (Stable); outstanding |
Certificates of Deposit | 60,000.00 | 60,000.00 | [ICRA]A1+; outstanding |
Total | 1,19,980.00 | 1,19,980.00 | |
The rating rationale letter of ICRA Limited is attached herewith.
This is for your information and records.
Thanking you.
With warm regards,
For Axis Bank Limited
Sandeep Poddar
Company Secretary
http://www.rns-pdf.londonstockexchange.com/rns/6511N_1-2022-6-1.pdf
Axis Bank Regs (AXB)
Axis Bank 144a (AXBA)