We have reviewed our ratings on India-based State Bank of India under our revised criteria. We affirmed the 'BBB-' long-term and 'A-3' short-term issuer credit ratings on the bank. We also affirmed the issue ratings on the bank's debt. The stable outlook on the long-term rating reflects our view that SBI will sustain its market leadership in India's banking sector and will receive capital from the government, if needed, over the next 18 months. On Jan. 7, 2022, S&P Global Ratings affirmed its 'BBB-' long-term and 'A-3' short-term issuer credit ratings on State Bank of India (SBI). The outlook on the long-term rating is stable. We also affirmed the issue ratings on the bank's debt. The affirmations follow a revision
