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  • Axis Bank announced that credit rating agency Moodys Investors Service (Moodys) has affirmed the Baa3 deposit rating of Axis Bank. At the same time Moodys has upgraded the Banks baseline credit assessments (BCA) to baa3 from ba1 reflecting improvements in credit fundamentals, in particular asset quality.

    Axis Bank, GIFT City Branchs preferred stock non-cumulative bond rating has been upgraded to Ba3(hyb) from B1(hyb), driven by the BCA upgrade.

    The outlook on ratings for the Bank, where applicable, remains stable.

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