CRISIL has assigned its ‘AA-/Stable’ rating to the Rs 1000 crore Tier I bond issue (under Basel III) of Andhra Bank, and has reaffirmed its rating on the bank’s existing debt instruments at ‘AA+/AA/Stable’.
The bank has received the said rating as its credit risk profile likely to derive significant strength from Government of India’s (GOI’s) ownership and that the bank will maintain adequate capitalisation over the medium term.