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RNS Number : 1900R Axis Bank Limited 05 June 2024
AXIS/CO/CS/146/2024-25
May 29, 2024
Dear Sir/Madam,
SUB: RATING ACTION BY S&P GLOBAL RATINGS
REF: REGULATION 30 AND 51 READ WITH SCHEDULE III OF THE SEBI (LISTING OBLIGATIONS
AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015
This is to inform you that the credit rating agency S&P Global Ratings has
revised upward its assessment of Axis Bank Limited's (the "Bank") stand-alone
credit profile (SCAP) to 'bbb' from 'bbb-'. The long term and short-term
ratings for the Bank have been affirmed at 'BBB-' and 'A-3', respectively.
The rating outlook has also been revised from 'stable' to 'positive'.
The rating action letter received from S&P Global Ratings is attached
herewith.
http://www.rns-pdf.londonstockexchange.com/rns/1900R_1-2024-6-5.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/1900R_1-2024-6-5.pdf)
This is for your information and records.
Thanking you.
Yours faithfully,
For Axis Bank Limited
Sandeep Poddar
Company Secretary
Encl.: As above
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