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Announcement under Regulation 30 (LODR)-Credit Rating

| Updated on March 27, 2018 Published on March 27, 2018

In terms of Regulation 30 read with point 3 of Para A of Part A of Schedule III of SEBI(Listing Obligations & Disclosure Requirements) Regulations, 2015 and SEBI circular no. CIR/CFD/CMD/4/2015 dated 9th September, 2015, we wish to inform you that Brickwork Ratings has downgraded the ratings of Basel III compliant Tier 2 instruments, Upper Tier 2 and Innovative Perpetual Debt Instruments of Union Bank of India from BWR AAA/Stable(Brickwork Triple A with Stable Outlook) to BWR AA+/Stable(Brickwork Double A plus with Stable Outlook).

Brickwork Ratings has also downgraded the ratings of Basel III compliant Additional Tier 1 instruments of Union Bank of India from BWR AA+/Stable(Brickwork Double A plus with Stable Outlook) to BWR AA/Stable(Brickwork Double A with Stable Outlook).

The details of instruments and reasons for downgrade in rating are given in the enclosed rating rationale of Brickworks Ratings India Pvt. Ltd. dated 23rd March, 2018.

Pdf Link: Announcement under Regulation 30 (LODR)-Credit Rating

Source : BSE - www.bseindia.com

Published on March 27, 2018
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