June 20, 2017 / 9:09 AM / in 4 months

BRIEF-ICRA downgrades rating on UCO Bank’s bonds programme

June 20 (Reuters) - ICRA:

* ICRA downgrades rating on UCO Bank’s bonds programme; the rating continues to have a negative outlook Source text: [ICRA downgrades rating on UCO Bank’s bonds programme; the rating continues to have a negative outlook ICRA has downgraded the ratings on: * Rs. 800 crore Lower Tier II bonds programme of UCO Bank (UCO) from AA- (pronounced ICRA double A minus) to A+ (pronounced ICRA A plus) and * Bank’s Rs. 500 crore Upper Tier II Bond programme from A (pronounced ICRA A) to A- (pronounced ICRA A minus). The outlook on the long term ratings of the bank is ‘Negative’]

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