Moody’s Investors Service, has assigned a Baa3 rating to State Bank of India’s proposed USD denominated senior unsecured notes, issued under its US$10 billion Medium-Term Note (MTN) program.
SBI’s senior unsecured debt and deposit ratings could be upgraded, if the India sovereign rating (Baa3, positive) is upgraded.
The bank’s final Baa3 rating incorporates a one-notch uplift due to Moody’s assumption of the bank’s very high level of support from the Indian government in a stressed situation.
SBI is headquartered in Mumbai. As of September 30, 2016, SBI reported standalone assets of Rs. 23,855 bn (approximately USD357.4 billion).
The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.
Get a chance to meet the Who's who of the BFSI industry. Join Us for 7th NBFC100 Tech Summit, Chennai and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.