Credit rating agency, ICRA has upgraded the rating to ‘AA-’ (hyb) from ‘A+’ (hyb) for the Rs 800 crore Basel III Compliant Tier II Bond Programme of RBL Bank. The rating agency has also upgraded the rating of medium term fixed deposit programme to ‘MAA’ from ‘MAA-’.
Besides, ICRA has reaffirmed the rating of ‘A1+’ for the enhanced certificate of deposit programme of Rs 4,000 crore (enhanced from Rs 3,000 crore) of RBL. It has also reaffirmed the rating of ‘A1+’ for the short term fixed deposit programme of RBL. The outlook on the long-term and medium-term ratings has been changed to stable from positive earlier.
RBL Bank is one of India’s fastest growing private sector banks with an expanding presence across the country.
