Standard & Poor's Ratings Services today assigned its 'BBB-' long-term issue rating to a proposed issue  of U.S. dollar-denominated senior unsecured notes by ICICI Bank.

The rating on the notes reflects the long-term counterparty credit rating on the bank.

The proposed notes will constitute direct, unconditional, unsecured, and unsubordinated obligations of ICICI Bank. They shall at all times rank at par among themselves and with all other unsecured obligations of the bank.

Shares of the bank gained Rs 4.4, or 0.28%, to trade at Rs 1,575.80. The total volume of shares traded was 77,363 at the BSE (12.18 p.m., Thursday).