Allahabad Bank announced that following the Government of India, Ministry of Finance announcement regarding the proposed amalgamation of Allahabad Bank with Indian Bank, the Rating Agency namely India Ratings has placed Allahabad Bank Long Term Issuer Ratings of "IND AA-" on Rating Watch Evolving (RWE). The instrument wise rating actions of India Ratings are as under:
Rs 1000 crore Basel III compliant Tier 2 - IND AA-/RWE (Placed on RWE Bonds Series III)
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