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
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