State Bank Of India's Proposed Senior Unsecured Notes Assigned 'BBB-' Rating

SINGAPORE (S&P Global Ratings), Jan. 17, 2017--S&P Global Ratings today assigned its 'BBB-' long-term issue rating to a proposed issue of senior unsecured notes by State Bank of India (SBI: BBB-/Stable/A-3) under its US$10 billion medium-term note program. The rating on the notes reflects the long-term counterparty credit rating on SBI. The notes will be issued from the bank's London branch. The proposed notes will constitute direct, unconditional, unsecured, and unsubordinated obligations of SBI, and shall at all times rank equally with all other unsecured obligations of the bank. The rating on the proposed notes is subject to our review of the final issuance documentation. RELATED CRITERIA General Criteria: Rating Government-Related Entities: Methodology And Assumptions, March 25, 2015 Criteria -

...SINGAPORE (S&P Global Ratings), Jan. 17, 2017--S&P Global Ratings today assigned its '###-' long-term issue rating to a proposed issue of senior unsecured notes by State Bank of India (SBI: ###-/Stable/A-3) under its US$10 billion medium-term note program. The rating on the notes reflects the long-term counterparty credit rating on SBI. The notes will be issued from the bank's London branch. The proposed notes will constitute direct, unconditional, unsecured, and unsubordinated obligations of SBI, and shall at all times rank equally with all other unsecured obligations of the bank. The rating on the proposed notes is subject to our review of the final issuance documentation. RELATED CRITERIA + General Criteria: Rating Government-Related Entities: Methodology And Assumptions, March 25, 2015 + Criteria - Financial Institutions - Banks: Bank Hybrid Capital And Nondeferrable Subordinated Debt Methodology And Assumptions, Jan. 29, 2015 + General Criteria: Group Rating Methodology, Nov. 19, 2013...

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