ICRA assigns rating to Upper Tier-2 bonds of OBC

New Delhi, July 20 (UNI) Credit rating agency ICRA today assigned high-credit-quality rating to the Rs 5 billion long term Upper Tier 2 bonds of Oriental Bank of Commerce (OBC).

Meanwhile, OBC has an outstanding ICRA rating assigned to the conventional subordinated bonds.

The rating is based on bank's healthy earnings, comfortable solvency position, adequate liquidity position and the restored capital adequacy of the bank.

The rating shows the specific features of these instruments wherein the debt servicing is additionally linked to meeting the regulatory norms on capitalisation and reported profitability.

It also draws comfort from bank's sovereign ownership.

UNI SBA ARB DB2016