Mumbai: CARE Ratings Limited has reaffirmed the CARE AAA / Stable rating on Union Bank of India’s Tier-2 Bonds and Infrastructure Bonds, reflecting continued confidence in the bank’s credit profile.
The rating actions were taken on October 7, 2026, and disclosed by Union Bank of India to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
CARE Ratings Reaffirms AAA / Stable on Key Bonds
CARE Ratings has reaffirmed the CARE AAA / Stable rating on the following Union Bank of India instruments:
- Tier-2 Bonds (INE692A08219): CARE AAA / Stable – Reaffirmed
- Tier-2 Bonds (INE692A08201): CARE AAA / Stable – Reaffirmed
- Infrastructure Bonds (INE692A08235): CARE AAA / Stable – Reaffirmed
- Infrastructure Bonds – Unutilized Portion: CARE AAA / Stable – Reaffirmed
The CARE AAA rating represents the highest credit rating assigned by the agency and indicates a strong capacity to meet financial obligations.
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AT-1 Bond Rating Withdrawn Following Redemption
CARE Ratings has withdrawn the rating on Union Bank of India’s Additional Tier-1 (AT-1) Bond (INE692A08029).
The rating was withdrawn because the instrument has been redeemed.
The withdrawal is therefore linked to the redemption of the specific AT-1 bond and does not represent a change in the ratings reaffirmed for the bank’s Tier-2 and Infrastructure Bonds.
Stable Outlook Maintained for Bond Instruments
The reaffirmation of the CARE AAA / Stable rating on the Tier-2 and Infrastructure Bonds reflects CARE Ratings’ continued assessment of Union Bank of India’s credit profile.
The Stable outlook indicates that the agency currently expects the credit profile supporting these instruments to remain stable.
The rating disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
About Union Bank of India
Union Bank of India is a major public sector bank in India, providing banking and financial services to retail, corporate, MSME and institutional customers. The bank operates through a wide network of branches and digital channels across India and offers services including deposits, loans, payments, investment and other financial products.
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