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Axis Bank Ltd - Announcement under Regulation 30 (LODR)-Credit Rating
(20 Jun 2022)
This is to inform you that credit rating agency Moodys Investors Service ('Moodys') has affirmed the Baa3 deposit rating of Axis Bank Limited (Bank). At the same time Moodys has upgraded the Banks baseline credit assessments (BCA) to baa3 from ba1 reflecting improvements in credit fundamentals in particular asset quality. Axis Bank Limited GIFT City Branchs preferred stock non-cumulative bond rating has been upgraded to Ba3(hyb) from B1(hyb) driven by the BCA upgrade. The outlook on ratings for the Bank where applicable remains stable. The rating rationale letter of Moodys is attached herewith.
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