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India Ratings downgrades rating of Allahabad Bank’s Basel-III compliant Tier 2 Bonds

08 Dec 2018 Evaluate

Credit rating agency, India Ratings has downgraded rating of Allahabad Bank’s Outstanding Basel-III compliant Tier 2 Bonds to ‘AA-’ from ‘AA’. The Key Rating Drivers for said rating are Large Capital Requirement through FY19 and Elevated Credit Costs to delay Profitability.

Allahabad Bank is a nationalised bank with its headquarters in Kolkata. It is the oldest joint stock bank in India.

Peers
Company Name CMP
State Bank Of India 1018.00
PNB 126.30
Bank Of Baroda 250.00
Canara Bank 122.80
Union Bank Of India 186.75
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