Canara Bank announced that ICRA has placed rating of Canara Bank'sBasel III Compliant Tier II Bonds & Additional Tier-I bonds, on Ratings Watch with Developing Implications.
As per ICRA Rating Rationale, the boards of both Canara and Syndicate have accorded in-principleapproval to the merger, though it is still in a nascent stage. Given the initial stage of the proposedmerger, ICRA has placed the ratings under Watch with Developing Implications.
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