Highest credit quality rating to PNB
Credit rating agency ICRA has assigned highest credit quality rating to Punjab National Bank's Rs 1,000 crore long-term bonds.
By PTI |
NEW DELHI: Credit rating agency ICRA has assigned highest credit quality rating to Punjab National Bank's Rs 1,000 crore long-term bonds.
The assigned rating 'LAAA" took into account the strong franchise of PNB resulting in low cost stable deposit base and a growing credit portfolio, ICRA said in a statement.
It also factored in stable core profitability of the bank, its improving asset quality, well covered non performing assets (NPAs) imparting it a favourable solvency profile and its comfortable liquidity position.
ICRA took note of the possible pressures on the profitability of the bank as a result of large available for sale (AFS) portfolio with relative higher modified duration, but low credit provisions are likely to offset such pressures on profitability to an extent.
In another such exercise, ICRA reaffirmed the highest credit quality rating 'A1+' assigned to HEG Ltd short term debt of Rs 40 crore.
The reaffirmation took into account HEG's cost-efficient graphite electrode business operations, the favourable global demand supply position also reflected in strong order book position and its comfortable liquidity and debt protection measures. Punjab National Bank's Rs 1,000 crore long-term bonds.
The assigned rating 'LAAA" took into account the strong franchise of PNB resulting in low cost stable deposit base and a growing credit portfolio, ICRA said in a statement.
It also factored in stable core profitability of the bank, its improving asset quality, well covered non performing assets (NPAs) imparting it a favourable solvency profile and its comfortable liquidity position.
ICRA took note of the possible pressures on the profitability of the bank as a result of large available for sale (AFS) portfolio with relative higher modified duration, but low credit provisions are likely to offset such pressures on profitability to an extent.
In another such exercise, ICRA reaffirmed the highest credit quality rating 'A1+' assigned to HEG Ltd short term debt of Rs 40 crore.
The reaffirmation took into account HEG's cost-efficient graphite electrode business operations, the favourable global demand supply position also reflected in strong order book position and its comfortable liquidity and debt protection measures.
The assigned rating 'LAAA" took into account the strong franchise of PNB resulting in low cost stable deposit base and a growing credit portfolio, ICRA said in a statement.
It also factored in stable core profitability of the bank, its improving asset quality, well covered non performing assets (NPAs) imparting it a favourable solvency profile and its comfortable liquidity position.
ICRA took note of the possible pressures on the profitability of the bank as a result of large available for sale (AFS) portfolio with relative higher modified duration, but low credit provisions are likely to offset such pressures on profitability to an extent.
In another such exercise, ICRA reaffirmed the highest credit quality rating 'A1+' assigned to HEG Ltd short term debt of Rs 40 crore.
The reaffirmation took into account HEG's cost-efficient graphite electrode business operations, the favourable global demand supply position also reflected in strong order book position and its comfortable liquidity and debt protection measures. Punjab National Bank's Rs 1,000 crore long-term bonds.
The assigned rating 'LAAA" took into account the strong franchise of PNB resulting in low cost stable deposit base and a growing credit portfolio, ICRA said in a statement.
It also factored in stable core profitability of the bank, its improving asset quality, well covered non performing assets (NPAs) imparting it a favourable solvency profile and its comfortable liquidity position.
ICRA took note of the possible pressures on the profitability of the bank as a result of large available for sale (AFS) portfolio with relative higher modified duration, but low credit provisions are likely to offset such pressures on profitability to an extent.
In another such exercise, ICRA reaffirmed the highest credit quality rating 'A1+' assigned to HEG Ltd short term debt of Rs 40 crore.
The reaffirmation took into account HEG's cost-efficient graphite electrode business operations, the favourable global demand supply position also reflected in strong order book position and its comfortable liquidity and debt protection measures.
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