Corporate News     13-Oct-20
Indian Overseas Bank receives reaffirmation in credit ratings
From ICRA
Indian Overseas Bank announced that ICRA has reaffirmed the credit ratings for the following instruments of the Bank:

TierII Bonds (under Basel III) Rs 1100 - ICRA A+(hyb); Negative (Reaffirmed)

Lower Tier II Bonds (under Basel II) Rs 1000 - ICRA A+; Negative (Reaffirmed)

Upper Tier II Bonds (under Basel II) Rs 967 - ICRA A-; Negative (Reaffirmed)

Certificates of Deposit Programme - ICRA A+ (Reaffirmed and withdrawn)

ICRA has withdrawn its rating on Certificate of Deposits (Rs.15000 crore) as the outstanding against this is Nil.

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