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Ratings On Six Indian Banks Raised To 'BBB-'; Outlook Stable

Published Jan 30, 2007

611 words — Published Jan 30, 2007

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Abstract:

SINGAPORE (Standard&Poor's) Jan. 30, 2007--Standard&Poor's Ratings Services today raised its ratings on the following six Indian banks to BBB-/Stable/A-3 from BB+/Positive/B: -- State Bank of India (SBI); -- ICICI Bank Ltd. (ICICI Bank); -- Industrial Development Bank of India Ltd. (IDBI); -- Bank of India (BoI) -- Indian Overseas Bank (IOB); and -- UTI Bank Ltd. (UTI Bank) Standard&Poor's also revised the Bank Fundamental Strength Rating (BFSR) of IDBI to 'C' from 'D+'. BFSR for the other five banks continues to be 'C'. This action follows today's similar upgrade on the sovereign credit ratings on India (foreign currency BBB-/Stable/A-3; local currency BBB-/Stable/A-3). The upgrade on the ratings on these banks reflects their improving standalone

Brief Excerpt:

RESEARCH Ratings On Six Indian Banks Raised To '###-'; Outlook Stable Publication date: 30-Jan-2007 SINGAPORE (Standard & Poor's) Jan. 30, 2007--Standard & Poor's Ratings Services today raised its ratings on the following six Indian...

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

Format:

HTML

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State Bank Of India's Proposed Hybrid Tier I Notes Assigned 'BB' Rating – 2007/06/18 – US$ 150.00

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Summary: State Bank of India – 2007/12/31 – US$ 225.00

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Summary: State Bank of India – 2006/12/13 – US$ 225.00

'BB+' Rating Assigned To State Bank Of India's US$300M Senior Unsecured Notes – 2006/12/05 – US$ 150.00

'BB-' Rating Assigned To State Bank Of India's Proposed Hybrid Issues – 2006/11/20 – US$ 150.00

Research Update: Outlook On State Bank Of India Revised To Positive; Ratings Affirmed – 2006/04/20 – US$ 225.00

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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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MLA:	S&P Global Ratings’ Credit Research. "Ratings On Six Indian Banks Raised To 'BBB-'; Outlook Stable" Jan 30, 2007. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-Six-Indian-Banks-Raised-To-BBB-Outlook-Stable-559503>

APA:	S&P Global Ratings’ Credit Research. (). Ratings On Six Indian Banks Raised To 'BBB-'; Outlook Stable Jan 30, 2007. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-On-Six-Indian-Banks-Raised-To-BBB-Outlook-Stable-559503>

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