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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 989.80
PNB 117.20
Bank Of Baroda 234.80
Canara Bank 123.50
Union Bank Of India 177.00
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