Rating action by India Ratings and Research

Axis Bank Limited

01 October 2024

 

Dear Sir/Madam,        

SUB:	RATING ACTION BY INDIA RATINGS AND RESEARCH
REF:	REGULATION 30 READ WITH SCHEDULE III OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

This is to inform you that credit rating agency India Ratings and Research has affirmed rating for various instruments of Axis Bank Limited ("the Bank"), as under.

Sr. No.	Facilities/Instruments	Amount (Rs. billion)	Rating	Rating Action
1	Long-Term Issuer Rating	-	IND AAA; Stable	Affirmed
2	Fixed deposits (FD)	-	IND AAA; Stable	Affirmed
3	Basel-III compliant Tier 2 bonds	220.00	IND AAA; Stable	Affirmed
4	Infrastructure bonds^	100.00	IND AAA; Stable	Affirmed
5	Basel III AT1 bonds ^	35.00	IND AA+; Stable	Affirmed

^ Yet to be issued

The rating rationale letter of India Ratings and Research received by the Bank via email on October 1, 2024 is attached herewith.

http://www.rns-pdf.londonstockexchange.com/rns/5366G_1-2024-10-1.pdf

This is for your information and records.

Thanking you.

Yours faithfully,

For Axis Bank Limited

Sandeep Poddar

Company Secretary

Encl.: As above

CC: London Stock Exchange

        Singapore Stock Exchange

 

END