We hereby inform that India Ratings and Research (Agency), vide its communication dated April 4, 2020 has affirmed the Bank's Long-Term Issuer Rating at 'IND AA+' with revised Bank's Outlook from Stable to Negative.
The Agency has also affirmed Short-Term Issuer Rating at 'IND A1+'.
The instrument wise ratings assigned are mentioned below:
Type Size of issue (billion) Rating / Outlook Rating Action
Senior Unsecured redeemable Bonds INR20 IND AA+/ Negative Affirmed; Outlook revised to Negative from Stable
Additional
Tier 1 (AT1)
Bonds INR40 IND AA /Negative Affirmed; Outlook revised to Negative
from Stable
The Press Release issued by the Agency on the Bank's Rating can be accessed at the following web link:
https://www.indiaratings.co.in/PressRelease?pressReleaseID=40630&title=India-Ratings-Revises-IndusInd-Bank%E2%80%99s-Outlook-to-Negative%3B-Affirms-%E2%80%98IND-AA%2B%E2%80%99