A rating of FAA+/ rating has been assigned on Thursday to the AU small finance bank for the Fixed deposit Program for an amount of Rs 40,000 crores by the CRISIL Rating Agency. Moreover, there has been a confirmed long-term rating and short-term rating at CRISIL AA-/Stable and CRISIL A1+ respectively by the Rating Agency.
There has been a confirmation on the rating of Non-Convertible Debentures collecting Rs 150 crores at the CRISIL AA-/Stable. The rating agency also confirmed the ratings on Subordinated Debt Bonds accumulating Rs35 crores at the CRISIL AA-/Stable.
There has been a withdrawal of the ratings of the CRISIL AA-/Stable on Rs 500 crores Tier Bond II. Moreover, there has been a confirmation at CRISIL A1+ about the ratings on Rs1200 crores Documentation of Deposits.
Au small finance bank Ltd was trading at Rs 889.40 per piece which is more than the previous closing of Rs 881.20 per piece on the BSE by 0.93% or Rs 8.2 at 9:48 AM.
A rating of FAA+/ rating has been assigned on Thursday to the AU small finance bank for the Fixed deposit Program for an amount of Rs 40,000 crores by the CRISIL Rating Agency and has confirmed the ratings of CRISIL AA-/CRISIL A1+/STABLE on the debt tools.
Besides, in line with its CRISIL withdrawal strategy, it inhibited it’s Rs 50,000 crore rating on the bank’s tier-II bonds. The company in its regulatory filing on Thursday shared that the client information has been received by the CRISIL that this tool has not been placed and the same has been reapproved from the data publicly available.
Furthermore, the company said that the ratings are a reflection of AU SFB’s passable capitalization, passable cost-effectiveness, the gradual ramp-up in deposit permission, and healthy reported strength quality. These assets are partly counterbalanced by reasonable, through refining, the scale of processes, sizeable, though decreasing, extensive deposits with a comparatively small share, and the topographical concentration in the income of the recent savings account in the overall obligations.