CARE downgrades ratings on Dena’s debt instruments
CARE ratings has revised the ratings on Dena Bank's various debt instruments according to a press release issued by the bank. Rating on the bank's Basel2 compliant lower tier-2 bonds have been revised to CARE AA- from CARE AA while the rating on the Basel-3 compliant tier-2 bonds have been revised to CARE AA- from CARE AA. Rating on the Dena Bank's Basel-2 compliant perpetual bonds have also been revised to CARE A from CARE AA-. The bank has also seen a rating revision on its Basel-3 compliant additional tier-1 bonds to CARE BBB+ from CARE A+.