Fitch and Moody's assign ratings for USD 200M bond tap

New Credit FacilityCredit & Debt View source PDF

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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AI summary

Canara Bank disclosed ratings for its USD 200 million tap issuance of 4.896% Senior Unsecured Notes due September 2029, to be consolidated with existing USD 300 million notes, taking the total to USD 500 million. Fitch confirmed BBB- (Senior Unsecured Long-Term) and BB(xgs) ratings, stating the tap will not cause a downgrade. Moody's assigned Baa3 with stable outlook. Both ratings sit at the lowest investment grade tier.

Likely market impact

Bank raises extra USD 200M via bond tap; lowest investment-grade ratings confirmed, reflecting stable credit standing for now.