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Lakshmi Vilas Bank announced that CARE Ratings (CARE) has assigned rating of CARE BB (Double B) (Creditwatch with developing implications) to the proposed Basel III compliant additionalTier I Perpetual Bond issue of the Bank.

CARE had also revised the rating from CARE BBB (Triple B; Credit Watch withnegative implications) to CARE BBB (Triple B; Credit Watch with developingimplications) for our Unsecured Redeemable Non-Convertible Subordinated LowerTier II Bonds - Series VII (Option B), VIII, IX, X of Rs.50.50 crores, Rs.78.10 crores, Rs.140.10crores and Rs.100 crores respectively.

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