Credit Rating - S&P Global Ratings

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

This is for your information and records.

Thanking you.

Yours faithfully,

For Axis Bank Limited

Sandeep Poddar

Company Secretary

Encl.: As above

 

END