ICICI bonds get AAA rating
By Our Banking Bureau | 03 Nov 2001
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Mumbai: The Credit Rating Information Services of India Ltd (Crisil) has reaffirmed the 'AAA' rating assigned to ICICI's debenture and bonds. Earlier, Crisil had placed ICICI under rating watch with developing implications.
The 'FAAA' and 'P1+' rating assigned to ICICI's FD and short-term debt respectively also have been reaffirmed. Crisil had placed the outstanding ratings of the debt instruments of ICICI under rating watch after the boards of ICICI and ICICI Bank decided on a merger.
The 'FAAA' and 'P1+' rating assigned to ICICI's FD and short-term debt respectively also have been reaffirmed. Crisil had placed the outstanding ratings of the debt instruments of ICICI under rating watch after the boards of ICICI and ICICI Bank decided on a merger.
The rating factors in the strong market position of the merged entity as the second largest bank of India, its wide range of products and customer relationship and a stronger funding and liquidity profile as a commercial banking entity with a much wider reach.
