Financial Daily from THE HINDU group of publications
Tuesday, Nov 08, 2005


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Rating on ICICI Bank notes

Our Bureau

MUMBAI: Standard & Poor's ratings services on Monday assigned BB+ rating to the proposed $300 million five-year fixed-rate senior unsecured notes issue by ICICI Bank. The notes will mature in 2010.

The rating assigned on the bank's proposed senior unsecured debt is the same as Standard & Poor's long-term counter-party credit rating on ICICI Bank, and is in accordance with its global criteria, said a release from Singapore.

This issue constitutes the direct, unconditional and unsecured obligations of ICICI Bank and will rank pari passu with all of the bank's unsecured and unsubordinated obligations.

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