Axis Bank announced that the credit rating agency S&P Global Ratings has revised upward its assessment of Axis Bank's stand-alone credit profile (SACP) to 'bbb+' from 'bbb'.

The long term and short-term ratings for the Bank have also been revised upward at ‘BBB' and ‘A-2' from ‘BBB-‘and ‘A-3', respectively.

The rating outlook has also been revised from ‘positive' to ‘stable'.