Moody’s Investors Service has assigned a Baa3 rating to the proposed USD benchmark senior unsecured notes drawdown, issued by Union Bank of India (UBI) from its $2 billion Medium-Term Note Program through its Hong Kong branch.
The proposed notes are expected to mature in 2019 and will be listed on the Singapore Exchange. The rating outlook is stable.
The Baa3 rating is underpinned by UBI’s franchise as the sixth largest public sector bank in India by assets.
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Tuesday 22 April 2014
Moody’s assigns Baa3 rating to UBI’s USD notes
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