The Jammu & Kashmir Bank Limited has informed the Exchange about Credit Rating
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Awaiting price reaction for this filing.
Jammu & Kashmir Bank informed the exchange about a credit rating review by Brickwork Ratings for two bond instruments. The rating on Tier II bonds (Basel III) worth ₹500 crore has been withdrawn, while the rating on Additional Tier I Bonds (Basel III) worth ₹1,000 crore has been reaffirmed at BWR A/Stable. The Tier II bond had previously carried a rating of BWR AA-/Stable/Reaffirmed, while the AT1 bond's rating remained unchanged. No reasons for the Tier II withdrawal have been provided in the filing.
This is largely a neutral-to-routine development for shareholders. The reaffirmed AT1 bond rating at BWR A/Stable indicates the bank's credit profile remains unchanged. The withdrawal of the Tier II bond rating typically happens when the instrument matures, is redeemed, or the issuer requests withdrawal — without further details, this does not signal any deterioration in the bank's financial health.