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ICICI Bank's Senior Unsecured Notes Under Its MTN Program Rated 'BBB-' May 11 Product Image

ICICI Bank's Senior Unsecured Notes Under Its MTN Program Rated 'BBB-' May 11

  • Published: May 2011
  • Standard & Poors

FEATURED COMPANIES

Abstract
MUMBAI (Standard & Poor's) May 19, 2011--Standard & Poor's Ratings Services today assigned its 'BBB-' rating to the issue of senior unsecured notes by ICICI Bank Ltd. (foreign currency BBB-/Stable/A-3) under the bank's existing US$5 billion medium-term notes (MTN) program. The notes will have a tenor of 5.5 years and will be issued through the bank's Dubai branch. The proceeds from the issue will be used to fund the bank's international operations and for general corporate purposes, subject to regulatory approval. The senior notes constitute direct, unconditional, unsecured, and unsubordinated obligations of the bank, and shall at all times rank pari passu with all other unsecured obligations. Standard & Poor's ratings on ICICI Bank's proposed debt issues under the US$5...

Companies mentioned in this report are:
- ICICI Bank Ltd.

Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify READ MORE >

- ICICI Bank Ltd.

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