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S&P rates ICICI Bank's Tier-1 securities

SINGAPORE: Standard & Poor's Ratings Services on Tuesday assigned its `BB-' rating to the hybrid Tier-1 securities to be issued by ICICI Bank, S&P said in a statement. The proposed hybrid Tier-1 notes are perpetual non-cumulative subordinated debt securities. These notes will have a call option of 10 years from the date of issue.

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