Moody's rates ICICI notes Baa2

Moody's Investors Service said it assigned a Baa2 rating to ICICI Bank Ltd.'s proposed issuance of senior unsecured notes under its $5 billion global medium-term note program.

The bonds will have a 5.5-year maturity and will be listed on the Singapore Stock Exchange.

Moody's said it maintains a standalone bank financial strength rating of D+ for ICICI Bank, mapping to a baseline credit assessment of Baa3 on the long-term scale.

The ratings capture the bank's solid franchise as the second largest commercial bank in India as well as its strong capitalization, liquidity and earnings profile, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.