Kotak Mahindra Bank credit rating developments came into focus after the lender informed exchanges on August 20, 2026, through a BSE filing that S&P Global Ratings had assigned a BBB rating to its proposed senior notes.

The rating applies specifically to USD 650 million of 5.478% Senior Notes proposed to be issued or allotted by Kotak Mahindra Bank. The disclosure was made under Regulations 30 and 51, along with other applicable provisions of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Notes covered by $1 billion EMTN programme

The proposed notes fall under the bank’s USD 1 billion Euro Medium Term Note Programme, which was established on August 14, 2026. The filing identifies the securities as senior notes and specifies their coupon at 5.478%.

  • Rating agency: S&P Global Ratings
  • Assigned rating: BBB
  • Proposed issue size: USD 650 million
  • Coupon: 5.478%
  • Programme size: USD 1 billion
  • Programme establishment date: August 14, 2026

The bank did not provide additional issue terms in the extracted filing beyond the proposed amount, coupon, senior status and programme details.

Rating rationale published by S&P

Kotak Mahindra Bank said S&P Global Ratings published its rating rationale or opinion on August 20, 2026, and made it available on the rating agency’s website.

The bank also hosted the regulatory intimation on its investor-relations website. The filing was submitted to BSE Limited and the National Stock Exchange of India. It listed BSE scrip code 500247 among the relevant codes and KOTAKBANK among the NSE symbols.

The disclosure was signed by Company Secretary Avan Doomasia. The BBB assessment disclosed in the filing relates to the specified senior notes rather than an unspecified rating for the bank as a whole.

Source: BSE corporate announcement.