S&P assigns 'BBB' rating to Bank of Maharashtra's $500 mln MTN programme
This story was originally published at 22:00 IST on 7 September 2026
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--S&P assigns 'BBB' rtg to Bk of Maharashtra's $500 mln MTN program
NEW DELHI – S&P Global Ratings Monday assigned a "BBB" long-term issue rating to Bank of Maharashtra's $500 million euro medium-term note programme. The bank had established and submitted framework of the programme Saturday with the National Stock Exchange International Financial Service Centre Ltd. and India International Exchange in line with regulatory requirements.
"This reflects our expectation that notes issued under the program shall rank equally with all of the bank's other senior unsecured obligations," the rating agency said. "Bank of Maharashtra may also issue index-linked notes from the program."
For the June quarter, Bank of Maharashtra reported a net profit of INR 20.20 billion on a total income of INR 90.63 billion. Monday, the bank's shares ended at INR 85 on the National Stock Exchange, down 1.1% from the previous close. End
US$1 = INR 94.49
Reported by Shweta
Edited by Deepshikha Bhardwaj
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