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Ind-Ra upgrades PNB’s long-term issuer rating

15 Oct 2020 Evaluate

Credit rating agency -- India Ratings and Research (Ind-Ra) has upgraded Punjab National Bank's (PNB) Long-Term Issuer Rating to 'AAA' from 'AA+' while resolving the Rating Watch Evolving (RWE). The Outlook is Stable. The Short-Term Issuer rating has also been affirmed at 'A1+'.

The bank has received upgrade in credit ratings from India Ratings and Research as follows - Basel III Tier 2 Bonds AAA/ Stable (Upgrade from AA+; off Rating Watch Evolving) .Additional Tier I Bonds AA/ Stable (Upgrade from A; off Rating Watch Evolving). Senior Infrastructure Bonds AAA/ Stable (Upgrade from AA+; off Rating Watch Evolving).

PNB is one of the oldest banks in India having a virtual presence in every important center of the country. The Bank caters to a wide variety of audience through spectrum of services including corporate and personal banking, industrial finance, agricultural finance and international finance.

Peers
Company Name CMP
State Bank Of India 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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