CRISIL Reaffirms IndusInd Bank Ratings, Keeps Negative Outlook

CRISIL Ratings on Monday reaffirmed the AA+ rating on IndusInd Bank’s infrastructure bonds and Basel III-compliant tier-II bonds, maintaining a negative outlook, the lender said in a filing. The ratings cover infrastructure bonds worth ₹15 billion and tier-II bonds worth ₹40 billion. These instruments have also been removed from the rating watch with negative implications.

The agency further reaffirmed the A1+ rating on the bank’s certificates of deposit worth ₹400 billion and on its short-term fixed deposit programme.