India Ratings upgrades Uco Bank's bond ratings
The rating company said that the new reflects Uco's improved standalone credit profile due to a reduction in loan concentration and increased profitability.
By ET Bureau | Updated:
KOLKATA: India Ratings & Research has upgraded Uco Bank's perpetual Tier I and upper Tier II debt instruments two notches to `A+' from `A-' on the lender's improved credit profile.
The rating company said that the new reflects Uco's improved standalone credit profile due to a reduction in loan concentration and increased profitability, with calibrated growth and better funding profile resulting in reduced asset liability mismatch gap.
It has affirmed the bank’s long-term Issuer rating at `AA.’
The rating company said that the new reflects Uco's improved standalone credit profile due to a reduction in loan concentration and increased profitability, with calibrated growth and better funding profile resulting in reduced asset liability mismatch gap.
It has affirmed the bank’s long-term Issuer rating at `AA.’
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