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 Bank Standalone Rating (BSR) of State Bank of India (SBI) to ‘bb+’ from ‘bb’. At the same time CI Ratings has affirmed SBI’s Long- Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) at ‘BBB-’ and ‘A3’, respectively. The Core Financial Strength ( CFS) rating of ‘bb+’ and Extraordinary Support Level ( ESL ) of High are also affirmed. The Outlook for the LT FCR and BSR remains Stable.

The upward revision of the BSR reflects a one notch increase in the Operating Environment Risk Anchor ( OPERA ) to ‘bb+’ from ‘bb’. This is underpinned by the success of reforms undertaken by the government over the last several years which ha ve strengthened the credit environment in the country significantly and improved the banking sector’s asset quality,…