MUMBAI (Standard&Poor's) Feb. 14, 2012--Standard&Poor's Ratings Services said today that its rating on State Bank of India (SBI; BBB-/Stable/A-3) is not affected by a significant slippage in the bank's loan quality. We anticipate that SBI's credit provisioning costs for the fiscal year ending March 31, 2012, will not be significantly higher than the projected credit losses based on our risk-adjusted capital framework. The bank's credit losses have been significantly higher than domestic peers' so far in fiscal 2012. We expect SBI's stand-alone credit profile (SACP) to underpin the rating. The jump in SBI's nonperforming assets and credit losses could pressure our current "adequate" assessment of its risk position. This could, in turn, strain the bank's SACP,
