Axis Bank has received downgrade in Foreign Currency Ratings from S&P Global Ratings as under -
Axis Bank, Issuer Credit Rating - BB+/Stable/B (previous rating BBB-/Negative/A-3)
Axis Bank, DIFC branch Senior Unsecured Rating - BB+ (previous rating BBB-)
Axis Bank, Gift City branch Senior Unsecured Rating - BB+ (previous rating BBB-)
Axis Bank, Hong Kong branch Senior Unsecured Rating - BB+ (previous rating BBB-)
S&P has confirmed that the Bank is on STABLE outlook.