Axis Bank Limited has announced that Moody’s Investors Service has assigned a ‘Baa3’ rating with a stable outlook to the bank’s U.S.$300,000,000 5.179 per cent. Senior Notes. These notes were issued by the Bank’s Gift City Branch under its Global Medium Term Notes (GMTN) programme. The rating reflects Moody’s assessment of the credit risk associated with this specific debt issuance.
Rating Action on Axis Bank Senior Notes
Axis Bank Limited has received a credit rating from Moody’s Investors Service for its recently issued Senior Notes. The rating agency has assigned a ‘Baa3’ rating to the U.S.$300,000,000 aggregate principal amount of 5.179 per cent. Senior Notes due November 21, 2029. This rating carries a stable outlook, indicating Moody’s expectation that the creditworthiness of the issuer will remain consistent over the rating horizon.
Issuance Details
The Senior Notes were issued by the Axis Bank Limited, GIFT City Branch, as part of its existing Global Medium Term Notes (GMTN) Programme. The specific series of notes being rated is for an amount of U.S.$300,000,000 with a coupon of 5.179 per cent.. The issuance is linked to the Global Medium Term Note Programme, highlighting the bank’s ongoing access to international debt markets.
Moody’s Rationale
While the detailed rating rationale letter from Moody’s is attached to the original disclosure, the ‘Baa3’ rating signifies a baseline level of credit quality for these specific senior notes. The ‘stable outlook’ suggests that Moody’s does not anticipate any significant changes to the bank’s credit profile in the near to medium term that would warrant a rating revision. Investors are advised to refer to Moody’s official documentation for a comprehensive understanding of the rating’s basis.
Source: BSE
