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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Certificates of Deposit Programme - ICRA A+ (Reaffirmed and withdrawn)
ICRA has withdrawn its rating on Certificate of Deposits (Rs.15000 crore) as the outstanding against this is Nil.
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