Credit Rating- New

Secretarial Department SEC/LODR/121/2026-27 July 09, 2026 National Stock Exchange of India Limited BSE Limited Listing Department, Department of Corporate Services- Listing, Exchange Plaza, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Fort, Bandra (E), Mumbai – 400 001. Mumbai – 400 051 Ref.: Scrip Symbol: FEDERALBNK/Scrip Code: 500469 Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Assignment of First-Ever International Issuer Credit Rating by S&P Global Ratings Dear Sir / Madam, Pursuant to Regulation 30 read with Schedule III, Part A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations"), we wish to inform you that S&P Global Ratings ("S&P") has, for the first time, assigned the following international issuer credit ratings to The Federal Bank Limited ("the Bank"): Rating Parameter Rating Assigned Long-Term Issuer Credit Rating BBB- Short-Term Issuer Credit Rating A-3 Rating Outlook Stable Rating Type First-Time Assignment (New Rating) This rating action marks a historic milestone for the Bank. Federal Bank is now among a select group of Indian private sector banks to hold an investment-grade international issuer credit rating from S&P Global Ratings - one of the world's three most authoritative credit rating agencies. The 'BBB-' long-term rating is the threshold for investment-grade status, placing the Bank within the universe of issuers eligible for consideration by global institutional investors, sovereign wealth funds, pension funds, and insurance companies that are mandated to hold only investment-grade credits. Federal Bank | 6th Floor, Federal Towers, Bank Junction, Aluva | Kerala | 683101 Phone: 0484- 2622263| E-mail: secretarial@federalbank.co.in | Website: www.federal.bank.in CIN: L65191KL1931PLC000368 A detailed Investor Note providing context on the significance of this rating, the Bank's credit profile, and the strategic implications for our stakeholders is enclosed herewith as Annexure A. The rating action letter received from S&P Global Ratings is enclosed as Annexure B. This disclosure is also being uploaded on the Bank's website at www.federal.bank.in. Kindly take the same on record. Thanking you, Yours faithfully, For The Federal Bank Limited Samir P Rajdev Company Secretary Federal Bank | Secretarial Dept | 6th Floor, Federal Towers, Bank Junction, Aluva | Kerala | 683101 Phone: 0484- 2622263| E-mail: secretarial@federal.bank.in | Website: www.federal.bank.in CIN: L65191KL1931PLC000368 ANNEXURE A Federal Bank Achieves Investment-Grade International Credit Rating from S&P Global Ratings Assigned 'BBB-/A-3' with Stable Outlook - A First in the Bank's 95-Year History ✦ KEY HIGHLIGHTS ✦ ► First-ever international issuer credit rating assigned to Federal Bank by S&P Global Ratings ► Long-term rating of 'BBB-' - the gateway to investment-grade status - places Federal Bank in an elite cohort amongst India's largest private sector banks ► Short-term rating of 'A-3' with Stable Outlook affirms the Bank's robust liquidity and short-term creditworthiness ► Unlocks access to international debt capital markets, cross-border syndications, and global institutional capital pools ► Validates the Bank's multi-year transformation journey from a regional franchise to a nationally competitive, digitally advanced institution WHY THIS RATING IS A LANDMARK MOMENT The assignment of a 'BBB-' long-term international issuer credit rating by S&P Global Ratings represents a watershed event in the Bank's 95-year history. In the global credit architecture, BBB- is the dividing line between investment-grade and speculative-grade. For Federal Bank, this means three things: 1. Access to a New Universe of Capital. A vast majority of the world's institutional capital - pension funds, insurance companies, sovereign wealth funds, central bank reserves, and investment-grade bond funds - operates under mandates that restrict holdings to issuers rated BBB- or above. The Bank can now access international debt capital markets on its own credit, raise foreign currency resources through Reg S / 144A bond issuances, participate in cross-border syndicated facilities, and price its international liabilities at spreads commensurate with investment-grade status. Federal Bank | Secretarial Dept | 6th Floor, Federal Towers, Bank Junction, Aluva | Kerala | 683101 Phone: 0484- 2622263| E-mail: secretarial@federal.bank.in | Website: www.federal.bank.in CIN: L65191KL1931PLC000368 2. Independent Validation of Credit Strength. S&P Global Ratings is one of the world's three Nationally Recognised Statistical Rating Organisations (NRSROs). An S&P investment-grade rating is an independent, globally benchmarked assessment of an issuer's capacity to meet its financial obligations. It affirms that the Bank's multi-year transformation from a regional franchise into a digitally advanced, pan-India institution with diversified revenue streams. 3. Competitive Parity with India's Largest Private Sector Banks. With this rating, Federal Bank now stands amongst the large private sector banks that hold an investment-grade international rating from S&P. For Federal Bank, the rating action is qualitatively different: this is not an upgrade of an existing rating - it is a first-time assignment. This reflects the inherent strength of the Bank's fundamentals. IMPLICATIONS FOR STAKEHOLDERS For Equity Investors An international investment-grade rating is a powerful signal of institutional quality. It signifies that a bank's fundamentals - asset quality, capital adequacy, profitability, governance, and risk management - have been stress-tested against global standards and found adequate. For equity investors, this carries direct implications for valuation: investment-grade banks globally command higher price-to-book multiples than their sub-investment-grade peers, reflecting lower perceived risk, greater earnings predictability, and wider strategic optionality. The rating also enhances the Bank's eligibility for inclusion in global ESG and credit-quality-screened indices, potentially broadening the foreign institutional investor base in the Bank's equity. For Debt Investors and Counterparties The rating directly enables the Bank to access the international bond market (including through the GIFT City IBU), negotiate bilateral and syndicated facilities with global banks at tighter pricing, and strengthen its position in the FCNR(B) and foreign currency wholesale deposit market. International counterparties - correspondents, trade finance partners, and syndicate arrangers - use S&P ratings as a primary screening tool; an investment-grade rating significantly expands the Bank's counterparty network and reduces credit-risk-driven pricing friction. For NRI Depositors and the Indian Diaspora Federal Bank is one of India's most prominent NRI banking franchises, with deep relationships across the Gulf, North America, Europe, and the broader Indian diaspora. An investment-grade rating from S&P Federal Bank | Secretarial Dept | 6th Floor, Federal Towers, Bank Junction, Aluva | Kerala | 683101 Phone: 0484- 2622263| E-mail: secretarial@federal.bank.in | Website: www.federal.bank.in CIN: L65191KL1931PLC000368 provides NRI depositors with a globally recognised, independent benchmark of credit safety - reinforcing the trust that has made Federal Bank a preferred destination for NRI remittances and deposits. THE ROAD AHEAD The Stable Outlook reflects S&P's expectation that the Bank's credit profile will remain resilient over the rating horizon. Federal Bank views this rating as both a validation and a foundation. The Bank's strategic priorities - deepening its digital capabilities, scaling its granular retail deposit franchise, diversifying its fee income streams, maintaining sector-leading asset quality, and strengthening its capital buffers - are f [Showing first 8,000 characters — download PDF for full document]