Utkarsh Small Finance Bank Ltd announced that CARE Ratings Limited (“CARE”) has assigned a rating of CARE A- (Stable) to its proposed Tier II Bonds aggregating up to Rs 500 crore, issued on a private placement basis, and reaffirmed the rating of CARE A- (Stable) for its existing Tier II Bonds amounting to Rs 200 crore; note that CARE A- (Stable) indicates an adequate degree of safety regarding timely servicing of financial obligations and carries low credit risk, with the suffix “-” reflecting the comparative standing within the rating category, and further details are available on CARE’s website at www.careratings.com and the Bank’s website at www.utkarsh.bank.in.