18-Aug-2026Today's Market Indicators


ESAF Small Finance Bank sees rating actions and withdrawals from Brickwork and BWR
(18:57, 18 Aug 2026)
ESAF Small Finance Bank Ltd has announced a series of rating actions and withdrawals across various instruments from Brickwork Ratings and BWR. Brickwork Ratings upgraded Tier II Bonds (under Basel III) amounting to Rs 20 Crore from BWR BBB+/Stable to BWR A-/Stable, while also downgrading another tranche of Tier II bonds (under Basel III) amounting to 20.00 from BWR A-/ Stable to BWR BBB+/Stable, and upgraded a further tranche of Tier II bonds (under Basel III) amounting to 20.00 to BWR A-/ Stable. BWR reaffirmed the Stable Outlook for Tier II Bonds (under Basel III) with a potential upgrade if asset quality improves significantly, alongside reaffirming and revising the outlook from Negative to Stable for Tier II Bonds (under Basel III) amounting to 20.00 and 280.00, downgrading Tier II Bonds (under Basel III) amounting to 20.00, and withdrawing ratings for Tier II Bonds (under Basel III) amounting to 280.00 due to non-utilization, as well as reaffirming and revising the outlook from Negative to Stable for Unsecured NCDs amounting to 20.00 and 20.00, downgrading Unsecured NCDs amounting to 20.00, and withdrawing ratings for Unsecured NCDs amounting to 280.00 and 300.00.