Chennai April 4 (IANS) Global credit rating agency Moody s Investors Service said it has retained its rating for State Bank of India s (SBI) senior unsecured notes after the issue size was increased by $100 million to $600 million.
The issue is part of SBI s $10 billion medium term note programme.
The upsize will be carried out from its London branch and the bonds will be listed on the Singapore Stock Exchange Moody s said on Monday in a report.
The outlook on the ratings where applicable is positive Moody s said.
The Baa3 rating on the notes is based on the executed pricing supplement and the bank s MTN prospectus.
The Baa3 foreign currency senior unsecured debt rating is anchored on SBI s ba1 baseline credit assessment (BCA) and Moody s assessment of the likelihood of a very high level of support from the Indian government (Baa3 positive) in a stressed situation Moody s said.
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Moody s retains rating on SBI s senior unsecured notes
