Moody's assigns Baa3 rating to Axis Bank's $300M senior notes
AXISBANK · price
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Axis Bank informed exchanges that Moody's has assigned a Baa3 rating with stable outlook to its US$300 million, 5.179 percent Senior Notes issued by the Gift City Branch under the bank's Global Medium Term Note programme, maturing November 2029. Baa3 is the lowest investment-grade rating on Moody's scale. The rating is routine for a new debt issuance rather than a change to the bank's existing credit profile. The proceeds will support the branch's overseas funding activities.
Routine rating assignment for new debt; lowest investment grade with stable outlook indicates no immediate credit concerns for shareholders.