The rating on Lakshmi Vilas Bank (LVB)’s Tier-II Capital of Rs 100 crore (Series VI) and Rs 250 crore (Series VII) has been revised a notch downward from 'A' to 'A-' by Brickwork Ratings India Pvt Ltd.
Instruments with 'A' rating are considered to have an adequate degree of safety regarding timely servicing of financial obligations. Such instruments carry low credit risk. The ‘-‘ modifier to the ‘A’ rating reflects the comparative standing within the category, according to the rating agency.
Shares of the Karur (Tamil Nadu) headquartered old generation private sector bank were trading at a new high of Rs 114 per share on the BSE, up 1.06 per cent, at 1310 hours.