Union Bank of India’s Tier II and infrastructure bonds reaffirmed at CARE AAA (Stable); AT1 rating withdrawn
- Credit rating
- Banks
Union Bank of India has told the exchanges on 8 Oct 2026 that CARE Ratings, on 7 Oct 2026, reaffirmed its AAA rating with a Stable outlook on two Tier II bond issues (ISINs INE692A08219 and INE692A08201), on infrastructure bonds under ISIN INE692A08235 and on unutilised infrastructure bonds.
CARE also withdrew the rating on an Additional Tier-1 bond, ISIN INE692A08029, because it was redeemed. The verification status for each action is shown as verified on 7 Oct 2026, and the rating rationale was filed with the intimation.
Inference
The reaffirmations mean no change in how CARE rates these instruments. The withdrawal follows the redemption of the AT1 bond and is not a credit action.
Reference: Original filing (PDF)
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