S&P Global Ratings Assigns BB- and BBB Ratings to Axis Bank's Global Medium Term Notes
S&P Global Ratings has assigned credit ratings to specific debt issuances by Axis Bank Ltd.'s GIFT City Branch, conducted under the bank's Global Medium Term Note (GMTN) programme. The ratings cover both Additional Tier 1 (AT1) Notes and Senior Notes.The rating actions relate to two separate tranches of notes issued by Axis Bank Ltd. through its GIFT City Branch. S&P Global Ratings assigned a BB- rating to the AT1 Notes while assigning BBB status to the corresponding Senior Notes.
Details regarding the rated instruments are summarized below:
| Issuer | Note Type | Note Programme | Rating | Amount | Interest Rate |
|---|---|---|---|---|---|
| Axis Bank Ltd. (GIFT City Branch) | Additional Tier 1 Notes | U.S.$5,000,000,000 Global Medium Term Note Programme | BB- | U.S.$500,000,000 | 6.875 per cent. |
| Axis Bank Ltd. (GIFT City Branch) | Senior Notes | U.S.$5,000,000,000 Global Medium Term Note Programme | BBB | U.S.$300,000,000 | 5.348 per cent. |
These ratings provide a view on the creditworthiness of these specific notes within the context of Axis Bank's GMTN program as assessed by S&P Global Ratings.
AXISBANK Stock Price Movement
As the market progresses toward midday trading at 11:30 AM, shares of Axis Bank Limited are climbing to ₹1373.9, posting a gain of ₹10.40 or 0.76%. This positive momentum occurs amid robust activity, with the stock seeing approximately 1.47 million shares exchanged in live trading so far.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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