State Bank of India – Ratings Affirme d with a Positive Outlook

Ref: IN0152 4 CRA 00- 0 1 2 2 Nov ember 202 4

State Bank of India – Ratings Affirme d with a Positive Outlook

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

The LT FCR Outlook was recently revised to Positive from Stable , reflecting an expected improvement in CI ’s internal assessment of sovereign risk and the high likelihood of extraordinary support from the government in the event of need. The …