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ICRA downgrades rating of Syndicate Bank’s bonds

20 Aug 2018 Evaluate

Credit rating agency, ICRA has downgraded the rating of Syndicate Bank’s Basel II Compliant Tier II Bonds programme to ‘AA’ (hybrid) from ‘AA+’ (hybrid). The outlook on the long term rating is Negative.

Instrument with ICRA AA rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Syndicate Bank is one of the oldest and major commercial banks of India.

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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