ICRA assigns highest ratings to Tier II bond of SBH

New Delhi, July 5 (UNI) Credit rating agency ICRA today assigned the highest credit quality rating LAAA to the Rs 200 crore Tier II bond programme of State Bank of Hyderabad (SBH).

It also assigned an LAA+ rating with stable outlook to the Rs 1,250 crore upper Tier II bonds of SBH, it said in a statement.

The ratings draw strength from the fact that SBH is owned by State Bank of India, the country's largest bank and enjoys operational synergies with its parent.

The reaffirmation of rating factors in SBH's strong franchisee value in its areas of operation, which enables it to have a stable deposit base, a substantial share in state government transaction business and grow its credit portfolio, the statement said.

UNI