State Bank of India – Ratings Affirmed

State Bank of India – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has raised the Core Financial Strength (CFS) rating of State Bank of India (SBI) to ‘bb+’ , from ‘bb’. At the same time , CI Ratings has affirmed SBI’s L ong- T erm Foreign Currency Rating (LT FCR) and S hort-Term Foreign Currency Rating (S T FCR ) at ‘BBB-’ and ‘A3’ , respectively . SBI’s Bank Standalone Rating ( BSR ) of ‘bb’ and Extraordinary Support Level (ESL) of High have also been affirmed . The Outlook remains Stable.

The upward revision of the CFS reflect s the continuing improvement in SBI’s asset quality parameters, driven by stronger underwriting standards , as well as s tructural changes in the sector. The new bankruptcy law and establishmen t of debt resolution companies have helped banks to manage their NPLs better. SBI’s balance sheet has shown resilience…