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Fitch Ratings assigned ratings to Union Bank of India’s outstanding and proposed debt instruments

21-Aug-26 18:29 Hrs IST

Union Bank of India announced ratings actions from Fitch Ratings concerning its outstanding and proposed debt instruments. Fitch Ratings has assigned a 'BBB-(EXP)' rating to U.S. dollar-denominated senior unsecured notes and proposed senior unsecured notes, both equal to the long-term issuer credit rating on UBI (BB-/Stable), with a Long-Term Issuer Default Rating (IDR) of 'BBB-/Stable' equalised with the Indian sovereign's IDR; furthermore, Fitch has assigned initial ratings of 'BBB- (EXP)' to proposed senior bonds, contingent on final documents, and an expected rating of BBB-(EXP) linked to the IDR, alongside initial ratings of BB(xgs)(EXP) for Senior Unsecured Long-Term driven by a Viability Rating of 'bb', BBB-(EXP) for Senior unsecured Long-Term, BB(xgs)(EXP) for Senior unsecured LT (xgs), and BBB-(EXP) for proposed senior bonds, with Senior Bonds also receiving an Assigned/Maintained rating of BBB-(EXP) related to proposed issuances.

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