CARE down­grades rat­ings on Dena’s debt in­stru­ments

The Financial Express - - MONEY & MARKETS -

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+.

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