AXIS/CO/CS/407/2022-23
November 21, 2022
Dear Sir(s),
SUB: RATING ACTION BY S&P GLOBAL RATINGS FOR AXIS BANK LIMITED ("BANK")
REF: REGULATION 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015
This is to inform you that credit rating agency S&P Global Ratings has upgraded its long-term and short-term issuer credit rating of the Bank to 'BBB-/A-3' from 'BB+/B'. The outlook on the long-term rating is stable.
S&P Global Ratings has also upgraded the long-term issue rating on the Bank's senior unsecured notes to 'BBB-' from 'BB+'.
The rating rationale letter received from S&P Global Ratings is attached herewith.
This is for your information and records.
Thanking you.
Yours sincerely,
For Axis Bank Limited
Sandeep Poddar
Company Secretary
Encl.: As above
http://www.rns-pdf.londonstockexchange.com/rns/1173H_1-2022-11-21.pdf
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