CARE Ratings maintained its A rating on Utkarsh Small Finance Bank's (NSE:UTKARSHBNK, BOM:543942) Tier II bonds, according to an Indian bourse filing on Monday.
The rating outlook has been revised to negative from stable, the filing said.
The rating agency cited continued stress in the microfinance segment, which has impacted the asset quality and profitability of the bank, as the key reason behind the outlook revision, according to the filing.
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