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26-Jul2017

India Ratings reaffirms rating of Additional Tier I bonds of Syndicate Bank at 'AA'

India Ratings has reaffirmed the rating of Additional Tier I bonds of Syndicate Bank at 'AA' and Tier II bonds at 'AA+' while revising the outlook from 'Stable' to 'Negative'.

Moreover, Moody's has affirmed the Bank's local and foreign currency bank deposit ratings at 'Baa3/Prime-3'. Moody has also affirmed senior unsecured medium term note (MTN) program at (P)Baa3 and senior unsecured debt rating at Baa3. The outlook wherever applicable has been changed from 'Positive' to 'Stable'.


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