Credit rating agency, India Ratings & Research has affirmed Allahabad Bank’s Long-Term Issuer rating at ‘AA’ with stable outlook. The rating agency has also assigned an ‘AA Unsolicited’ rating on the bank’s Rs 500 crore lower tier II 10 year subordinated debt with 10.0% coupon issued on Sept 25, 2007.
The bank has received the said rating affirmation on the back of its continued reasonable funding and liquidity profile, adequate capitalisation and a strong regional franchise in the northern and eastern India with increasing pan-India coverage.
