Axis Bank Limited

Net Asset Value • Jun 1, 2022

National Storage Mechanism | Additional information

RNS Number : 6511N

Axis Bank Limited

01 June 2022

AXIS/CO/CS/114/2022-23

June 1, 2022

Dear Sir(s),                  

SUB: RATING ACTION BY ICRA LIMITED.

REF: REGULATION 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 ("LISTING REGULATIONS").

This is to inform you that credit rating agency ICRA Limited has migrated the rating currently outstanding for the fixed deposits programme of Axis Bank Limited ("the Bank") from the medium-term rating scale to the long-term rating scale. The migration of the rating has resulted in a change in the rating symbol, however, this is to be construed only as a recalibration of the rating from one scale to another and not as a reflection of a change in the credit risk of the fixed deposit programme.

Summary of the rating action is as follows:

Instrument	Previous Rated Amount (Rs. crore)	Current Rated Amount (Rs. crore)	Rating Action
Fixed Deposit	-	-	[ICRA]AAA (Stable); migrated from MAAA (Stable)
Infrastructure Bonds/Debentures	29,705.00	29,705.00	[ICRA]AAA (Stable); outstanding
Basel III Tier II Bonds	16,350.00	16,350.00	[ICRA]AAA (Stable); outstanding
Basel II Lower Tier II Bonds	4,425.00	4,425.00	[ICRA]AAA (Stable); outstanding
Basel III Tier I Bonds	9,500.00	9,500.00	[ICRA]AA+ (Stable); outstanding
Certificates of Deposit	60,000.00	60,000.00	[ICRA]A1+; outstanding
Total	1,19,980.00	1,19,980.00

The rating rationale letter of ICRA Limited is attached herewith.

This is for your information and records.

Thanking you.

With warm regards,

For Axis Bank Limited

Sandeep Poddar

Company Secretary

http://www.rns-pdf.londonstockexchange.com/rns/6511N_1-2022-6-1.pdf

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCBLGDLCUGDGDB