The shares of one of India’s leading public sector banks gained 2.5 percent to Rs 108.70 per share after it received a credit rating of AAA from AA+ for its long-term instruments.
At 12:25 p.m, Union Bank of India Ltd shares were trading at Rs 106.95 a share, up 0.80 percent from the previous close price on the National Stock Exchange The company has a market capitalization of Rs 79,276 crore.
According to the exchange filing, On November 23, 2023, Credit rating agency ICRA Ltd Upgraded the bank’s Tier 2 long-term ratings bonds to AAA from AA+, and revised Outlook to ‘Stable’ from ‘Positive’.
ICRA upgraded the bank’s long-term rating based on sustained…
Read More…