• search

ICRA retains LAA+ rating for SB prog of IOB

Written by: Staff
|

New Delhi, July 5 (UNI) Credit rating agency ICRA has retained the LAA+ rating for the Subordinated Bond (SB) programmes of Indian Overseas Bank (IOB).

Indicating the rating as high credit quality, ICRA has also retained the LAA rating for perpetual bond programmes of IOB.

The one notch lower rating assigned to the perpetual bonds reflects the specific features of these instruments wherein the debt servicing is additionally linked to meeting the regulatory norms on capitalisation and reported profitability.

IOB, one of the largest commercial banks in the country is having a 61 per cent ownership by the Government of India (GoI), with an asset base of Rs 59200 crore.

UNI DKS RA PC1756

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