AXIS BANK LTD. - Announcement under Regulation 30 (LODR)-Credit Rating

This is to inform you that, the credit rating agency S&P Global Ratings ('S&P'), has downgraded the Foreign Currency Ratings of the Bank, as attached herewith.<BR> <BR> Further, please note that as confirmed by S&P, the rating report inadvertently mentions the Bank being on CreditWatch. In this regard, S&P has confirmed that it is an editorial error and Bank is on STABLE outlook.<BR> <BR> The rating action letter by S&P Global Ratings containing the reason for above downgrade is attached herewith. <BR> <BR> <BR>