S&P assigns ‘BBB-’ rating to ICICI Bank’s overseas bond issue

Standard & Poor’s Ratings Services on Wednesday assigned ‘BBB-’ long-term issue rating to a proposed issue of Singapore dollar-denominated senior unsecured notes by ICICI Bank Ltd. The rating on the notes reflects the long-term issuer credit rating on the bank.

The proposed notes will constitute direct, unconditional, unsecured, and unsubordinated obligations of the bank. They will rank at par with all other unsecured obligations of the bank. The bank will list the notes on the Singapore Exchange.

jayanta.mallick@thehindu.co.in