S and P assigns 'BBB-' to bond Programme of ICICI Bank

Global rating agency Standard & Poor's (S&P) at the moment assigned its 'BBB-', indicating investment grade to planned overseas bond issuance programme of ICICI Bank.

The stack proposes to circulation bonds of unspecified amount under existing $5 billion medium-term comments programme.

The comments will maintain a gist of 5.5 years and will be issued through the bank's Dubai branch, S&P thought in a statement.

The proceeds from the circulation will be used to deposit the bank's international operations and in place of broad-spectrum corporate purposes, subject matter to regulatory support.

The senior comments constitute target, absolute, unsecured, and unsubordinated obligations of the stack, and shall by the side of all time comparable to all other unsecured obligations, it thought.