India Ratings assigns Axis Bank's infrastructure bonds 'IND AAA/Stable'

The Basel III AT I bonds were assigned IND AA+/Stable rating.

FPJ Web DeskUpdated: Wednesday, December 07, 2022, 01:07 PM IST
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India Ratings assigns Axis Bank's infrastructure bonds 'IND AAA/Stable' | Representative Image/ File

Axis Bank Limited said in an exchange filing that India Ratings and Research has assigned its Basel III Tier II bonds and infrastructure bonds 'IND AAA/Stable'.

The Basel III AT I bonds were assigned an IND AA+/Stable rating.

Axis Bank, which was earlier known as UTI Bank until August 2007, was established in 1994 by government-owned institutions. The bank's net profit at the end of the financial year 2022 was Rs 7,077 billion.

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