Andhra Bank is planning to raise subordinated debt to the extent of Rs 140 crore by privately placing bonds.
The move is aimed at raising its Tier-II capital. The bank has obtained an AA+ (Ind) rating from Fitch Ratings for the proposed issue. The rating means a stable outlook.
The rating agency has also reaffirmed the tAAA (Ind) and F1+ (Ind) ratings for the bank