Announced Tue, 7 Jul · 17:38 IST
S&P assigns BB- rating to Axis Bank AT1 Notes from Gift City branch
AXISBANK · price
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Price reaction · full curve 14 horizons · vs prior close
-2.6%1-day move
₹1336.20
prior close
₹1344.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.8-0.8-1.0-0.9-2.6-1.0-1.1-1.3-1.8-0.6————
Up moveDown movePending
AI summary
S&P Global Ratings has assigned BB- rating to Additional Tier 1 (AT1) Notes worth USD 100 million issued by Axis Bank's Gift City Branch under the bank's Global Medium Term Notes programme. These new AT1 Notes carry a 6.875 percent coupon and will be consolidated with the existing USD 500 million AT1 Notes issued on June 30, 2026 to form a single series. The rating applies specifically to these subordinated AT1 instruments.
Likely market impact
BB- is sub-investment grade but applies only to subordinated AT1 debt, not the main bank credit rating. Limited direct impact on equity shareholders.