Sikh News (AFX UK Focus) 2008-02-21 11:10 GMT: Punjab And Sind Bank's Lower Tier II Bonds Assig

[Sikh News Reporter]

BANGALORE (Thomson Financial) - Indian rating agency, ICRA said it assigned an 'LAA' rating to the 1 bln Indian rupees lower tier II bonds of Punjab & Sind Bank (PSB) reflecting the banks 100 pct sovereign ownership, its adequate capitalization and a large low cost deposit base from its established franchise in North Indian states.

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