Credit rating agency, CARE has assigned rating to bond issue of Syndicate Bank. The credit rating agency has assigned ‘AA+’ rating to the bank’s Basel III Tier II Bond Issue amounting Rs 1,750 crore.
The rating assigned to the tier II bond issue of the Bank continues to derive strength from the majority ownership by the Government of India (GoI), moderate capitalization levels and stable asset growth over the years.
Syndicate Bank (SB) is a Manipal-based public sector bank which was established in 1925.
