ICRA has downgraded the rating of Oriental Bank of Commerce’s ₹500-crore bond programme to ICRA A+ from ICRA AA - and the ₹1,200-crore Tier-II bond programme to [ICRA]AA- from [ICRA]AA. The rating agency also downgraded the ₹3,000-crore Tier-II bond programme (Basel-III compliant) to AA- (hybrid) from AA (hybrid) and the ₹2,000-cr programme to A (hyb) from A+ (hyb). The outlook on the long-term rating is retained at negative. Shares may come under pressure.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.