Fitch gives Axis Bank debt BBB-

Fitch Ratings said it assigned Axis Bank Ltd.'s (BBB-/stable) proposed dollar-denominated senior unsecured debt an expected rating of BBB-(EXP).

The notes will constitute direct, unconditional, unsubordinated and unsecured obligations of the issuer. They will at all times rank pari passu among themselves and with all other unsubordinated and unsecured obligations (other than subordinated obligations) of Axis Bank.

The tenor of the issue is expected to be around 5½ years and the notes are to be issued by Axis Bank's Dubai International Financial Centre branch.

The senior unsecured instruments are rated at the same level as the bank's issuer default rating, in accordance with Fitch's criteria.

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