HDFC Bank is set to raise up to $1.75 billion through fixed-rate senior notes, with Moody’s Investors Service Singapore assigning the proposed issuance a Baa3 rating with a Stable Outlook, according to a regulatory filing by the bank.
The rating marks a significant milestone for the country’s largest private-sector lender as it taps international debt markets for funding. Moody’s said the Baa3 rating applies to the proposed $1.75 billion fixed-rate senior notes, while maintaining a stable outlook on the issue.
Separately, S&P Global Ratings assigned a BBB rating to HDFC Bank’s proposed US dollar-denominated senior notes due in 2029 and 2031.
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