• search

ICRA assigns LAA+ rating to Kotak Mahindra Bank's long-term debt

Written by: Staff
|

Mumbai, May 9 (UNI) Rating agency ICRA has assigned an LAA+ rating to the Rs 60 crore long-term subordinated bonds programme of Kotak Mahindra Bank Limited (KMBL).

A ICRA release here today said it has also given LAA+ rating to the bank's outstanding Rs 240 crore long-term subordinated bonds.

The ratings indicate high-credit quality and the rated instrument carries low credit risk.

The rating has factored KMBL's strong position in the commercial vehicle finance and improved franchise in the other retail asset segments such as personal loans and mortgage finance.

The release said the rating also took into account the improved capitalisation levels following the USD 100 million mobilised by the bank by way of Global Depository Shares in April this year.

In addition, the rating has derived comfort from the operational synergies with its subsidiaries operating in car financing, capital market and investment banking businesses.

ICRA has also noted the realignments of its car finance joint group ventures with Ford Credit International and the investment banking and broking ventures with Goldman Sachs Inc.

UNI SN SSS SKB1739

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more