Fitch gives India state bank notes BBB-

Fitch Ratings said it gave an expected BBB- rating to State Bank of India's planned senior unsecured notes. The notes will be issued by the bank’s London branch.

“The senior unsecured instruments are rated at the same level as the bank's long-term issuer default rating (IDR), in line with Fitch's criteria,” the agency said in a statement.

The outlook is stable.

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