Canara Bank Receives 'BBB-' and 'Baa3' Ratings from Fitch and Moody's
Canara Bank received a 'BBB-' Senior Unsecured Long-Term Rating and 'BB(xgs)' Senior Unsecured Long-Term (XGS) Rating from Fitch. Moody's assigned a 'Baa3' rating with a stable outlook. These ratings pertain to the bank's USD 500 Million Senior Unsecured Notes due 2029.
Positive credit ratings from reputable agencies like Fitch and Moody's can enhance investor confidence, potentially lower borrowing costs, and improve the bank's access to international debt markets. This is a significant development for a financial institution.
The bank has received favorable credit ratings from two major rating agencies, Fitch and Moody's, which indicates a positive assessment of its financial stability and creditworthiness.
Canara Bank has announced that Fitch Ratings has assigned a Senior Unsecured Long-Term Rating of ‘BBB-’ and a Senior Unsecured Long-Term (XGS) Rating of ‘BB(xgs)’. Additionally, Moody's Ratings has assigned a Baa3 rating with a stable outlook to the bank.
These ratings are in relation to Canara Bank's USD 500 Million 4.896% Senior Unsecured Notes due 11 September 2029. Specifically, Fitch confirmed that a tap issuance of U.S.$200,000,000 4.896% due 2029, to be consolidated with the existing U.S.$300,000,000 4.896% Notes due 2029, will not result in a withdrawal or downgrade of the assigned ratings. Moody's has assigned the Baa3 rating with a stable outlook to this obligation, which was issued under the Canara Bank, IFSC Banking Unit, USD3,000,000,000 Medium Term Note Programme.
The announcements were made on 17.07.2026.
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