21-Aug-2026      18:29

Fitch Ratings assigned ratings to Union Bank of India’s outstanding and proposed debt instruments

Union Bank of India announced ratings actions from Fitch Ratings concerning its outstanding and proposed debt instruments. Fitch Ratings has assigned a 'BBB-(EXP)' rating to U.S. dollar-denominated senior unsecured notes and proposed senior unsecured notes, both equal to the long-term issuer credit rating on UBI (BB-/Stable), with a Long-Term Issuer Default Rating (IDR) of 'BBB-/Stable' equalised with the Indian sovereign's IDR; furthermore, Fitch has assigned initial ratings of 'BBB- (EXP)' to proposed senior bonds, contingent on final documents, and an expected rating of BBB-(EXP) linked to the IDR, alongside initial ratings of BB(xgs)(EXP) for Senior Unsecured Long-Term driven by a Viability Rating of 'bb', BBB-(EXP) for Senior unsecured Long-Term, BB(xgs)(EXP) for Senior unsecured LT (xgs), and BBB-(EXP) for proposed senior bonds, with Senior Bonds also receiving an Assigned/Maintained rating of BBB-(EXP) related to proposed issuances.

News source: Capital Market - Live News