Fitch rates Axis Bank notes BBB-

Fitch Ratings said it assigned Axis Bank Ltd.'s (ABL) proposed foreign-currency senior notes, to be issued under its €2 billion medium-term notes program, an expected rating of BBB-.

The bank's long-term foreign-currency issuer default rating is BBB-.

Axis bank has a strong franchise, sound profitability and asset quality, the agency said.

The bank's reputation, established track record and capable management have enabled it to carve a leading position in certain niches while ensuring growth over the past five years, the agency noted.

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