Karur Vysya Bank Ltd has informed BSE that with respect to the Certificate of Deposit Programme of the Bank, ICRA has<BR>reaffirmed/assigned the credit rating.
KARURVYSYA · price
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ICRA has reaffirmed its highest short-term credit rating of A1+ on Karur Vysya Bank's Certificate of Deposit (CD) Programme. The bank has also enhanced the size of this CD programme from Rs. 5,000 crore to Rs. 10,000 crore. A1+ indicates the highest degree of safety for short-term debt instruments. The rating action combines a reaffirmation of the existing rating along with an assignment for the enhanced portion.
Positive signal for shareholders — the top-tier rating reaffirmation shows strong confidence in the bank's short-term credit quality, while doubling the CD programme size gives it greater flexibility to raise short-term funds at competitive rates.