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| Exchange Received Time 26/12/2017 16:14:15 Exchange Disseminated Time 26/12/2017 16:14:22 Time Taken 00:00:07 | The Credit Rating Agency, M/s. CARE Ratings Limited (CARE) has reviewed the rating for our AT1 Bonds of Rs.1000 crore issued during February 2015, on the basis of recent developments including losses made by the Bank during H1FY18 which adversely impacted the distributable reserves and the possible impact of the same on the credit risk profile of the instrument.
The rating continues to derive strength from the majority ownership by Government of India (GOI) and demonstrated strong support by GOI including periodical capital infusions in the past. The rating also factors in the long standing track record of operations of the Bank with strong presence in South India.
The above information, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, may be taken on record.
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