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CRISIL reaffirms ‘AAA’ rating to Lower Tier-II Bonds of Corporation Bank

21 Apr 2014 Evaluate

Credit rating agency, CRISIL has reviewed the credit ratings in respect of the Bonds assigned to Corporation Bank. The credit rating agency has reaffirmed the ‘AAA’ rating in respect of Lower Tier-II Bonds (under Basel II), revising the outlook to Negative from Stable, and downgraded its rating on the bank’s Tier-I Perpetual Bonds and Upper Tier-II Bonds (both under Basel II) to ‘AA+/Negative’ from ‘AAA/Stable’.

Besides, the ratings on the bank’s Fixed Deposit Programme and Certificate of Deposit Programme have been re-affirmed at ‘FAAA/Stable’ and ‘CRISIL A1+’ respectively.

Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906. Government of India is the majority shareholder holding 59.82% stake in the bank. As on March 31, 2013, the bank has 1707 branches and 1425 ATMs.

Corp. Bank-Amalgamat Share Price

22.60 0.00 (0.00%)
19-Mar-2020 18:01 View Price Chart
Peers
Company Name CMP
SBI 1116.00
PNB 114.40
Canara Bank 143.85
Bank Of Baroda 285.15
Union Bank Of India 189.20
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