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Tuesday, September 4, 2012

Karnataka Bank tier-II bonds get ‘CARE A’ rating

CARE Ratings (Care Analysis & Research Ltd) has assigned ‘CARE A’ to Karnataka Bank’s lower tier-II bonds.

The bank informed the NSE on Tuesday that CARE Ratings has revised the rating from ‘CARE A+’ (single A plus) to ‘CARE A’ (single A) for lower tier-II bonds of the bank for an outstanding amount of Rs 350 crore.

Instruments with this rating are considered to have adequate degree of safety regarding timely servicing of debt instruments. Such instruments carry low credit risk, it said.


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