Indian Bank successfully secured fresh ratings for its ₹5000 crore proposed Infrastructure Bonds from both CARE Ratings Ltd. (AAA/Stable) and CRISIL Ratings Ltd. (AAA/Stable). Furthermore, both agencies re-affirmed the existing ratings on the Bank’s outstanding Basel III instruments, Tier 2 Bonds, and existing Infrastructure Bonds. The Certificate of Deposits rating was also reaffirmed at A1+ by CRISIL.
New Ratings Assigned to Proposed Bonds
As announced on March 16, 2026, Indian Bank has received initial ratings for its forthcoming debt issuances. The Bank’s proposed issue of Rs.5000 crore Infrastructure Bonds has been assigned the highest rating by both primary rating agencies:
- CARE Ratings Ltd. assigned a rating of AAA, Outlook: Stable (Assigned).
- CRISIL Ratings Ltd. assigned a rating of AAA, Outlook: Stable (Assigned).
Reaffirmation of Existing Instrument Ratings
In addition to the new issuance rating, the rating agencies have re-affirmed the current ratings across the Bank’s existing and unutilized debt obligations. The reaffirmations ensure continued confidence in the Bank’s credit profile across various segments:
Infrastructure Bonds
The outstanding Infrastructure Bonds (Series I and Series II, each of Rs.5000 crore) were both reaffirmed at AAA, Outlook: Stable by both agencies.
Basel III Instruments
The following Basel III related instruments were reaffirmed at AAA, Outlook: Stable:
- Basel III Tier 2 Bonds Series III (Rs.1000 crore).
- Unutilized Basel III Tier 2 Bonds (Rs.2000 crore).
The unutilized Basel III AT 1 Perpetual Bonds (Rs.1000 crore) were reaffirmed at AA+, Outlook: Stable by both rating agencies.
Issuer and Certificate Ratings
The rating process also covered the Bank’s overarching Issuer Rating and short-term instruments:
- The Issuer Rating was reaffirmed at AAA, Outlook: Stable by CARE Ratings Ltd.
- The Certificate of Deposits (Rs.45000 crore) rating was reaffirmed by CRISIL Ratings Ltd. at A1+.
The consistent assignment and reaffirmation of high ratings across all major instruments reflect the strong underlying financial stability of Indian Bank.
Source: BSE
