BSECompany Update21 Aug 2026 · 21 Aug 2026, 05:56 pm
Reporting under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Union Bank of India · 532477
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Union Bank of India announced that S&P Global Ratings has assigned its 'BBB' long-term issue rating to U.S. dollar-denominated senior unsecured notes that the Dubai International Financial Centre branch of Union Bank of India proposes to issue.
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Earnings Impact5/10
Growth Catalyst6/10
Governance Concern2/10
Regulatory Risk3/10
Balance Sheet Risk4/10
Liquidity Impact8/10
Market Sentiment7/10
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Union Bank of India - 532477 - Announcement under Regulation 30 (LODR)-Credit Rating
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संदभ ग Ref.:नि.से.नव.ISD/175/2026-27 नदिांक Date : 21.08.2026
बीएसई निस्टंग सेंटर BSE Listing Centre National Stock Exchange of India Ltd.
स्िप कोि Scrip Code - 532 477 निप्स NEAPS
स्िप कोि Scrip Symbol-UNIONBANK-EQ
Subject: Reporting under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015.
In terms of Regulation 30 read with clause 3 of Para A of Part A of Schedule III and Regulation 55 of the
SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 and SEBI Master circular no.
SEBI/HO/DDHS/DDHS-POD2/P/CIR/2025/101 dated July 11,2025; we wish to inform that S&P Global
Ratings on August 21, 2026 has assigned its 'BBB' long-term issue rating to U.S. dollar-denominated senior
unsecured notes that the Dubai International Financial Centre branch of Union Bank of India (UBI) proposes
to issue. The rating on the notes is equal to the long-term issuer credit rating on UBI (BBB/Stable/A-2).
The notes will constitute direct, unconditional, unsubordinated, unsecured, and senior obligations of
Union Bank of India.
Thanking you.
भवदीय Yours faithfully,
(Ashish Mishra)
Company Secretary
Cc to: 1. IDBI Trusteeship Services Ltd.
2. Catalyst Trusteeship Limited
Union Bank of India, Investor Services Division, Union Bank Bhavan,239, Vidhan Bhavan Marg, Nariman Point, Mumbai - 400021.
: + 91 22 2289 6636/2289 6643, investorservices@unionbankofindia.bank.in , website: www.unionbankofindia.bank.in 1
C-111, Ground Floor, Nila Spaces,
Block 11-D, Zone 1, Road-1A, Gift
SEZ,
Village Ratanpur, Taluka and District
Gandhinagar,
Gujrat-382355 India, Gift City,
Gandhinagar-382355,
Gujarat, India
S&P Global Ratings Singapore Pte.
21 August 2026 Ltd.
Union Bank of India
Union Bank Bhavan, 239,
Vidhan Bhavan Marg,
Nariman Point,
Mumbai – 400021, Maharashtra, India
Attention To: Mr Asheesh Pandey,
MD & CEO,
Union Bank of India
Re: New Rating
To Whom it May Concern,
S&P Global Ratings hereby assigns the below rating(s):
Issuer Rating Description Rating
Union Bank of India Proposed U.S$ Senior Notes BBB
(DIFC Branch)
This letter assumes that the final documentation for the above-referenced issue[s] will not
materially differ from the latest version we received. Please send us a clean copy of the executed
documentation, and if applicable a marked copy showing any changes that were made, as soon
as available.
This letter constitutes S&P Global Ratings’ permission for you to disseminate the above-
assigned rating(s) to interested parties in accordance with applicable laws and regulations.
However, permission for such dissemination (other than to professional advisors bound by
appropriate confidentiality arrangements or to allow the Issuer to comply with its regulatory
obligations) will become effective only after we’ve released the rating on
www.spglobal.com/ratings. Any dissemination on any Website by you or your agents shall
include the full analysis for the rating, including any updates, where applicable. Any such
dissemination shall not be done in a manner that would serve as a substitute for any products
and services containing S&P Global Ratings’ intellectual property for which a fee is charged.
To the extent that regulatory authorities allow a rating agency to acknowledge in one
jurisdiction a rating issued in another jurisdiction for certain regulatory purposes, S&P Global
Ratings may choose to acknowledge such a rating and denote such acknowledgement on
www.spglobal.com/ratings with an alphabetic or other identifier affixed to such rating or by
other means.
To maintain the rating(s), S&P Global Ratings must receive all information as indicated in the
applicable Terms and Conditions. You understand that S&P Global Ratings relies on you and
your agents and advisors for the accuracy, timeliness and completeness of the information
submitted in connection with the rating and the continued flow of material information as part
of the surveillance process. Please send all information via electronic delivery to:
aurick.soh@spglobal.com. If SEC rule 17g-5 is applicable, you may post such information on
the appropriate website. For any information not available in electronic format or posted on the
applicable website, please send hard copies to: S&P Global Ratings, 12 Marina Boulevard,
#23-01 Marina Bay Financial Centre, Tower 3, Singapore 018982. Attention: Aurick Soh.
The rating(s) is/are subject to the Terms and Conditions attached to the Engagement Letter
applicable to the rating. In the absence of such Engagement Letter and Terms and Conditions,
the rating(s) is/are subject to the attached Terms and Conditions. The applicable Terms and
Conditions are incorporated herein by reference.
In accordance with the Terms and Conditions, S&P Global Ratings may assign, raise, lower,
suspend, place on CreditWatch, or withdraw a credit rating, and assign or revise an Outlook, at
any time, in S&P Global Ratings’ sole discretion. S&P Global Ratings may take any of the
foregoing actions notwithstanding any request for a withdrawal of a credit rating or termination
of the Engagement Letter.
S&P Global Ratings is pleased to have the opportunity to provide its rating opinion. For more
information please visit our website at www.spglobal.com/ratings. If you have any questions,
please contact us. Thank you for choosing S&P Global Ratings.
Sincerely yours,
S&P Global Ratings, acting through
S&P Global Ratings Singapore Pte. Limited
Analytical Contact:
Name: Aurick Soh
Telephone #: +65 6216 1134
S&P Global Ratings Terms and Conditions Applicable to Credit Ratings
You understand and agree that:
General. The credit ratings and other views of S&P Global Ratings are statements of opinion and not statements of fact.
Credit ratings and other views of S&P Global Ratings are not recommendations to purchase, hold, or sell any securities
and do not comment on market price, marketability, investor preference or suitability of any security. While S&P
Global Ratings bases its credit ratings and other views on information provided by issuers and their agents and advisors,
and other information from sources it believes to be reliable, S&P Global Ratings does not perform an audit, and
undertakes no duty of due diligence or independent verification, of any information it receives. Such information and
S&P Global Ratings’ opinions should not be relied upon in making any investment decision. S&P Global Ratings does
not act as a “fiduciary” or an investment advisor. S&P Global Ratings neither recommends nor will recommend how
an issuer can or should achieve a particular credit rating outcome nor provides or will provide consulting, advisory,
financial or structuring advice. S&P Global Ratings owns and hereby reserves all right, title and interest in and to (i)
the credit ratings, analytical reports and other views, opinions, data and information provided hereunder and (ii) its
trademarks and service marks.
All Credit Rating Actions in S&P Global Ratings’ Sole Discretion. S&P Global Ratings may assign, raise, lower,
suspend, place on CreditWatch, or withdraw a credit rating, and assign or revise an Outlook, at any time, in S&P Global
Ratings’ sole discretion. S&P Global Ratings may take any of the foregoing actions notwithstanding any request for a
confidential or private credit rating or a withdrawal of a credit rating, or termination of this Agreement.
Publication. S&P Global Ratings reserves the right to use, publish, disseminate, or license others to use, publish or
disseminate the credit rating provided hereunder and any analytical reports, including the rationale for the credit rating,
unless you specifically request in connection with the initial credit rating that the credit rating be assigned and maintained
on a confidential or private basis. If, however, a confidential or private credit rating or the existence of a confidential or
private credit rating subsequently becomes public through disclosure other than by an act of S&P Global Ratings or its
affiliates
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