Crisil assigns highest rating to ICICI Bank's car loan programme

Rating agency Crisil, today assigned its highest rating to ICICI Bank's car loan receivable securitisation programme amounting to Rs 204.8 crore.

The agency assigned 'AAA' rating to ICICI Bank's both A1 series of bond worth Rs 154 crore with a maturity of 24 months, and the A2 series bonds worth Rs 50.8 crore with a maturity period of 38 months, the bank informed Bombay Stock Exchange.

The provisional ratings would become valid once the legal documentation pertaining to the transaction is duly executed to the satisfaction of CRISIL thereafter, the agency will issue a compliance letter, it said.

The shares of the bank closed down by 1.15 per cent at Rs 587.50.

Article Source: http://www.share.onlypunjab.com

Please Rate this Article

5 out of 54 out of 53 out of 52 out of 51 out of 5 

Not yet Rated