ICRA to assign ratings to United Bank of India's loans

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New Delhi, Nov 23 (UNI) Credit rating agency ICRA Limited (ICRA) today said it will assign ratings to United Bank of India's (UBI) loans and its other exposures.

In a Memorandum of Understanding (MoU) signed with UBI, ICRA will assign ratings to the Bank's loans and its other exposures under the standardised approach of RBI's New Capital Adequacy Framework for Basel-II.

The MoU will benefit both the bank and its clients. ICRA will rate for the standardised approach under its 'Line of Credit' rating service which will enable the bank to assess the new risk weights applicable to its borrowers under Basel-II.

ICRA is offering special terms to the clients of the bank covered by the MoU for assistance to potential and existing borrowers.

For the client, an ICRA rating may place the rated entity in a superior position in terms of faster loan processing and to obtain competitive credit terms from the Bank.

UNI

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