CRISIL downgrades UCO Bank's tier-II bond rating
Ratings agency CRISIL has downgraded rating for UCO Bank's tier-II bonds from "AA-" to "A+". This comes following higher-than-expected deterioration in asset quality, which impacted the bank's June quarter profits. The bank had reported a net loss of ₹440 crore in the first quarter. Further, the bank's asset quality will remain under pressure over the next few quarters, CRISIL said.