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MARC has withdrawn its AA rating on State Bank of India’s (SBI) RM500 million Senior Unsecured Bonds following the full redemption of the bonds which matured on March 29, 2013. MARC will no longer provide analytical coverage on the issuer upon withdrawal of the aforementioned rating.Contact: Sharidan Salleh, +603-2082 2254/ sharidan@marc.com.my. ...
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MARC has affirmed its AA rating on State Bank of India’s (SBI) Senior Unsecured Bonds of RM500 million with a stable outlook. The rating reflects SBI’s very high systemic importance as the largest bank in India, its robust market franchise, stable income generation, strong liquidity position and the likelihood of external support from its majority shareholder, the Government of India (...
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MARC has downgraded the State Bank of India’s (SBI) Senior Unsecured Bonds of RM500 million to AA from AA+ following the incorporation of transfer and convertibility (T&C) risk into the ratings of ringgit-denominated debt issuances by foreign issuers. The outlook is stable.Under the refined methodology, MARC’s approach going forward will be to cap the ratings of non-sovereign forei...
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MARC has affirmed its AA+ rating on State Bank of India’s (SBI) Senior Unsecured Bonds of RM500 million. The rating reflects SBI’s very high systemic importance as the largest bank in India, its robust market franchise, stable income generation and strong liquidity position. The rating also incorporates SBI’s ownership structure and the likelihood of external support from its maj...
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MARC has affirmed its AA+ rating on State Bank of India’s (SBI) Senior Unsecured Malaysian Ringgit (MYR) Bonds (2008/2013) of MYR500 million. The rating reflects SBI’s systemically important position as the largest bank in India, its strong market franchise, resilient core earnings and good liquidity position. The rating also takes into account the bank’s ownership structure and ...
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MARC has issued this rating update on State Bank of India’s (SBI) AA+ rating on its RM500 million senior unsecured bonds following a review of SBI’s audited financial results for the quarter ending June 30, 2008. SBI's first-quarter FY2009 results were strong in spite of India’s macroeconomic environment which has become more challenging and uncertain with high inflation and sign...
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MARC has assigned a rating of AA+ to the proposed RM500 million senior unsecured ringgit bonds to be issued by State Bank of India (SBI). The rating reflects the bank’s position as the largest commercial bank in India, amidst consolidation in the Indian banking system and intensifying domestic competition from private banks and other public sector banks, and its strong financial profile, und...
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