Credit rating agency, CARE has reaffirmed ‘AA-’ rating assigned to Corporation Bank’s Lower Tier II bonds worth Rs 500 crore. The rating agency has also reaffirmed ‘A+’ rating to the bank’s Upper Tier II bonds worth Rs 2850 crore. Moreover, CARE has reaffirmed ‘A+’ rating to the bank’s perpetual bonds worth Rs 737.50 crore.
Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906.