Credit rating agency -- CARE Ratings has re-affirmed Federal Bank’s 'Basel III -Tier II Bonds' of Rs 1000 crore (Size of Issue) rating at ‘AA’ and revised outlook to ‘positive’ from 'stable'. Tier-II Bonds under Basel-III are characterised by a ‘Point of Non-Viability’ (PONV) trigger due to which the investor may suffer a loss of principal.
Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.