S&P assigns Icici Bank issues BBB-

Standard & Poor's said it assigned its BBB- rating on the following issues by Icici Bank Ltd. (foreign currency BBB-/stable/A-3): senior unsecured two-year floating-rate notes of €100 million due 2009, upsizing the €500 million issue of March 2007 to €600 million, acting through its Singapore branch and senior unsecured five-year fixed rate notes of Singapore dollar 100 million due 2012, acting through its offshore banking unit in Mumbai.

The agency said that these notes were issued under the bank's current multi-currency $5 billion medium-term note issuance program.

ratings on future issues under the program may not necessarily be the same as the ratings assigned on the program and will be assessed as and when they occur based on their terms and conditions, the agency added.

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