CRISIL assigns AAA' rating with negative outlook to tier-II bonds of Union Bank of India

Union Bank Of India | Bank - Public | BFSI | BSE: 532477 | NSE: UNIONBANK

15 Jun 2016 Evaluate

Union Bank of India is planning to raise Rs 1,000 crore by issuing tier-II bonds. In this regard, CRISIL Ratings has assigned AAA' rating with negative outlook to the bank's proposed Basel III compliant Tier 2 bond issue.

Besides, CRISIL has reaffirmed its ratings on other debt instruments i.e. Tier 1 Perpetual Bond Issue (Basel II) at ‘AAA’, Tier 1 Bond Issue (Basel III) at ‘AA’ & Tier 2 (Basel II & III) at ‘ AAA' respectively with negative outlook. CRISIL has also reaffirmed its rating on the bank's Certificate of Deposits programme at ‘A1+’.

Peers

Company Name	CMP
State Bank Of India	982.50
PNB	116.70
Bank Of Baroda	235.25
Canara Bank	124.95
Union Bank Of India	180.00
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