Union Bank of India BBB rating has been assigned by S&P Global Ratings to the US dollar-denominated senior unsecured notes proposed by the bank’s Dubai International Financial Centre branch, the lender said in a BSE filing on August 21, 2026.

The rating agency assigned a BBB long-term issue rating to the proposed notes. Union Bank of India disclosed the rating action under Regulation 30 and Regulation 55 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Rating matches Union Bank’s issuer credit rating

According to the exchange filing, the rating on the proposed notes is equal to Union Bank of India’s long-term issuer credit rating of BBB with a Stable outlook. The filing also lists the bank’s issuer credit rating as BBB/Stable/A-2.

The proposed securities will be issued through Union Bank of India’s DIFC branch. The bank described the notes as its direct, unconditional, unsubordinated, unsecured and senior obligations.

  • Issuer: Union Bank of India, DIFC branch
  • Instrument: Proposed US dollar senior notes
  • Issue rating: BBB
  • Rating agency: S&P Global Ratings

Rating subject to final documentation

S&P Global Ratings said its assessment assumes that the final documentation for the proposed issue will not differ materially from the latest version received by the agency. It requested copies of the executed documents once available, including a marked copy if changes are made.

The agency also clarified that credit ratings are opinions rather than statements of fact or recommendations to buy, hold or sell securities. It may assign, raise, lower, suspend, place on CreditWatch or withdraw a rating, and may revise an outlook, at its discretion.

Union Bank of India submitted the disclosure to BSE, where it carries scrip code 532477, and to the National Stock Exchange of India under the symbol UNIONBANK-EQ. The filing was signed by Company Secretary Ashish Mishra.

Source: BSE corporate announcement.