Moody’s lowers rating of State Bank of India as bad loans mount

Moody’s lowers rating of State Bank of India (SBI) as bad loans mount.

SBI-LogoCredit rating agency Moody’s has lowered the baseline credit assessment of countries largest lender – State Bank of India, reflecting its relatively high level of bad loans.

Moody’s has adjusted SBI’s mapping to a baseline credit assessment (BCA) of ‘ba1’ (speculative grade rating) from ‘baa3’ (investment grade rating) previously on the long-term scale.

Moody’s has left the global local currency deposit rating and senior unsecured debt rating unchanged at ‘Baa2’ (investment grade rating). The outlook on all ratings of State Bank of India (SBI) is stable.

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