MELBOURNE -- Standard&Poor's CreditWire 12/3/98 -- In response to recent press reports, Standard&Poor's today advised it has not assigned the State Bank of India (SBI) public local currency ratings or a foreign currency long-term rating. At the same time, Standard&Poor's affirmed its single-'B' short-term foreign currency rating, which is the only public rating it has assigned to SBI. The single-'B' short-term foreign currency rating on SBI is supported by its reasonably sound capital position, dominance across all segments in India's banking market, and the 59.7% ownership of the bank by the Reserve Bank of India (RBI). SBI is India's largest commercial bank, with a market share in excess of 20% of both domestic deposits
