ICRA inks MoU with UCO Bank to rate its loans

New Delhi, Nov 14 (UNI) Credit rating agency ICRA Ltd today said it has signed a Memorandum of Understanding (MoU) with UCO Bank to 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.

ICRA's Line of Credit ratings would enable the nationalised bank to assess the new risk weights applicable to its borrowers under Basel-II, said a statement.

ICRA is offering special terms to the potential and existing borrowers of the Bank to assist them in obtaining ratings, which may place the rated entity in a superior position in terms of faster loan processing and obtaining competitive credit terms from the Bank.

UNI