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Credit Rating

21st Nov 2022 17:12

RNS Number : 1173H

Axis Bank Limited

21 November 2022

AXIS/CO/CS/407/2022-23

November 21, 2022

Dear Sir(s),

SUB: RATING ACTION BY S&P GLOBAL RATINGS FOR AXIS BANK LIMITED ("BANK")

REF: REGULATION 30 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015

This is to inform you that credit rating agency S&P Global Ratings has upgraded its long-term and short-term issuer credit rating of the Bank to 'BBB-/A-3' from 'BB+/B'. The outlook on the long-term rating is stable.

S&P Global Ratings has also upgraded the long-term issue rating on the Bank's senior unsecured notes to 'BBB-' from 'BB+'.

The rating rationale letter received from S&P Global Ratings is attached herewith.

This is for your information and records.

Thanking you.

Yours sincerely,

For Axis Bank Limited

Sandeep Poddar

Company Secretary

Encl.: As above

http://www.rns-pdf.londonstockexchange.com/rns/1173H_1-2022-11-21.pdf

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