Which of the following statements regarding Bandhan Bank and its ratings by ICRA Limited is/are correct?

1. The long-term rating of Bandhan Bank for ₹75 crore of non-convertible debentures was downgraded to AA- from AA.
2. The bank’s outlook was revised to negative from stable.
3. The downgrade reflects weaknesses in Bandhan Bank’s Emerging Entrepreneur Business (EEB) portfolio.

Select the correct option: