S&P gives Axis Bank notes BBB-

Standard & Poor's said it assigned its BBB- rating on Axis Bank Ltd.'s (BBB-/stable/A-3) senior unsecured notes issue of S$40 million under its existing €2 billion medium-term notes program.

The notes will have a tenor of one year and will be issued through the bank's Hong Kong branch, the agency said.

The proceeds from this issue will be used to fund the bank's international operations and for general corporate purposes, S&P added.

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