SBI's USD Bond Ratings: A Boost from Fitch and S&P
SBI plans to issue US dollar-denominated bonds with a 'BBB-(EXP)' rating from Fitch and a 'BBB' rating from S&P. These bonds are part of SBI's USD 10 billion medium-term notes program. The ratings reflect SBI's strong market position and the robust growth of India's economy.
- Country:
- India
Fitch Ratings has assigned a 'BBB-(EXP)' rating to the State Bank of India's upcoming US dollar-denominated bond issuance, highlighting the bank's strong market presence.
Similarly, S&P Global Ratings awarded a 'BBB' rating to the senior unsecured notes proposed by SBI's London branch, aligning with the bank's strategic expansion.
The bond issuance, part of SBI's $10 billion medium-term notes program, underscores the institution's robust credit standing, bolstered by India's economic growth and governmental support, according to agency reports.
(With inputs from agencies.)
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