State Bank of India’s Ratings Affirmed; Outlook Revised to Stable from Negative
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State Bank of India’s Ratings Affirmed; Outlook Revised to Stable from Negative
Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has revised the Outlook on the Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) o f State Bank of India (SBI) to Stable from Negative . At the same time , CI Ratings has affirmed SBI’s 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’, Core Financial Strength (CFS) rating of ‘bb’ and Extraordinary Support Level (ESL) of High have also been affirmed .
The change in the Outlook for the Bank’s LT FCR and BSR follows a revision in CI’s internal assessment of India’s sovereign creditworthiness on the back of ongoing economic recovery from the Covid-19 shock and an improved international liquidity position. It also reflects our…