Canara Bank Receives Ratings from Fitch and Moody's for Senior Unsecured Notes
Canara Bank has received credit ratings from both Fitch and Moody's regarding its senior unsecured notes. The ratings were issued following the bank's tap issuance of U.S.$200,000,000 4.896% Senior Unsecured Notes due September 11, 2029. This issuance will be consolidated with existing obligations to form a single series totaling U.S.$500,000,000.The ratings assigned by the agencies are as follows:
| Rating Agency | Rating Category | Assigned Rating |
|---|---|---|
| Fitch | Senior Unsecured Long-Term | BBB- |
| Fitch | Senior Unsecured Long-Term (XGS) | BB(xgs) |
| Moody's | Credit Rating | Baa3 |
Fitch Ratings has confirmed that the tap issuance will not result in a withdrawal or downgrade of the ratings currently assigned to Canara Bank. The evaluation by Fitch was based on information provided by the issuer and other parties.
The rating from Moody's includes a stable outlook for the obligation, which was issued under the Canara Bank, IFSC Banking Unit, USD3,000,000,000 Medium Term Note Programme. Both agencies have indicated that their ratings are based on current information and are subject to revision or withdrawal depending on any changes in the accuracy or adequacy of the information received from the issuer.
CANBK Stock Price Movement
Canara Bank shares today slipped by 0.60% to settle at ₹125.15. The stock saw 19.27 million shares change hands as it traded within a daily range of ₹124.3 to ₹126.09.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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