Fitch: Axis Bank notes BBB-

Fitch Ratings said it assigned Axis Bank Ltd.'s proposed $500 million of foreign-currency senior unsecured notes a long-term rating of BBB-.

The 51/2-year notes are rated at the same level as Axis Bank's long-term foreign currency issuer default rating of BBB-, as they will constitute direct, unsubordinated and senior unsecured obligations of the bank, the agency said.

Fitch noted that the bank's other ratings include a short-term foreign currency issuer default rating of F3, viability rating of BBB-, support rating of 3 and support rating floor of BB+.

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