Brickwork revises ratings assigned to bonds of Corporation Bank

Credit rating agency, Brickwork Ratings India has revised the Credit Rating of Corporation Bank's Upper Tier II Bonds to ‘AA+’ from ‘AAA’ with negative outlook worth Rs 500 crore. The rating agency also revised Perpetual Tier II Bonds to ‘AA+’ from ‘AAA’ with negative outlook worth Rs 300 crore.

Corporation Bank is engaged in providing banking services. Its offers savings accounts, current accounts, term deposits, demand deposits, nonresident Indian deposit accounts, internet banking and personal banking services.