MUMBAI (Standard&Poor's) Nov. 22, 2010--Standard&Poor's Ratings Services today assigned its 'BBB-' issue rating to State Bank of India's (SBI; BBB-/Stable/A-3) proposed senior unsecured notes under the bank's existing US$5 billion medium-term notes program. The proposed notes will have the following features: They will constitute unsecured and unsubordinated obligations of the bank. They will rank pari passu with all of the bank's unsecured and unsubordinated obligations. They will rank ahead of all subordinated debt issues. The tenor will be about five years. The notes will be listed on the Singapore Exchange. The notes will be sold under regulation S of the Securities Act. The proposed issue will be made through the bank's London branch. The proceeds will
