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India Ratings reaffirms rating of Additional Tier I bonds of Syndicate Bank at ‘AA’

26 Jul 2017 Evaluate

India Ratings has reaffirmed the rating of Additional Tier I bonds of Syndicate Bank at ‘AA’ and Tier II bonds at ‘AA+’ while revising the outlook from ‘Stable’ to ‘Negative’.

Moreover, Moody’s has affirmed the Bank’s local and foreign currency bank deposit ratings at ‘Baa3/Prime-3’. Moody has also affirmed senior unsecured medium term note (MTN) program at (P)Baa3 and senior unsecured debt rating at Baa3. The outlook wherever applicable has been changed from ‘Positive’ to ‘Stable’.

Peers
Company Name CMP
State Bank Of India 958.10
PNB 116.80
Bank Of Baroda 236.00
Canara Bank 119.50
Union Bank Of India 172.30
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