Moody's Investors Service has assigned a Baa2 rating to ICICI Bank's proposed US dollar denominated senior unsecured notes.
The notes are proposed to be issued under its updated $7.5-billion Global Medium Term Note programme.
The drawdown is from its Dubai branch. The ratings outlook is stable.
The notes have a maturity of 5.5 years and will be listed on the Singapore Stock Exchange.
The Baa2 rating for the notes is at the same level as the foreign currency debt ceiling of India.