'BB-' Rating Assigned To State Bank Of India's Proposed Hybrid Issues - S&P Global Ratings’ Credit Research

'BB-' Rating Assigned To State Bank Of India's Proposed Hybrid Issues

'BB-' Rating Assigned To State Bank Of India's Proposed Hybrid Issues - S&P Global Ratings’ Credit Research
'BB-' Rating Assigned To State Bank Of India's Proposed Hybrid Issues
Published Nov 20, 2006
Published Nov 20, 2006
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

SINGAPORE (Standard&Poor's) Nov. 20, 2006--Standard&Poor's Ratings Services today assigned its 'BB-' rating to State Bank of India's (SBI; BB+/Positive/B) proposed upper Tier II subordinated and hybrid Tier I notes under its US$2 billion MTN program. The differential between the 'BB+' counterparty credit rating and the 'BB-' rating on the upper Tier II and hybrid Tier I securities reflects the subordinated nature of the notes and embedded interest deferral feature. The interest deferral feature is linked to the compliance with the regulatory capital adequacy ratio (RCAR) and a profit test. This is, in turn, linked to the "balance in profit&loss account," which is a component of the reserves and surplus on a bank's balance sheet.

  
Report Type:

Ratings Action

Ticker
SBIN@IN
Issuer
State Bank of India
GICS
Diversified Banks (40101010)
Sector
Global Issuers, Structured Finance
Country
India
Region
United States
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "'BB-' Rating Assigned To State Bank Of India's Proposed Hybrid Issues" Nov 20, 2006. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/BB-Rating-Assigned-To-State-Bank-Of-India-s-Proposed-Hybrid-Issues-546279>
  
APA:
S&P Global Ratings’ Credit Research. (). 'BB-' Rating Assigned To State Bank Of India's Proposed Hybrid Issues Nov 20, 2006. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/BB-Rating-Assigned-To-State-Bank-Of-India-s-Proposed-Hybrid-Issues-546279>
  
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