S&P: ICICI Bank view positive

Standard & Poor's said it revised the outlooks on its long-term foreign currency ratings on the State Bank of India (foreign currency BB/positive/B, local currency BB+/stable/B) and ICICI Bank Ltd. (foreign currency BB/positive/B) to positive from stable.

The outlook on its BB+ long-term local currency rating on State Bank of India was also revised to stable from negative. At the same time, the counterparty credit ratings on State Bank of India and ICICI Bank were affirmed.

S&P said it revised the outlook on India's BB long-term foreign currency rating to positive from stable, while the outlook on the BB+ long-term local currency rating was revised to stable from negative The outlook revisions on the sovereign ratings reflect India's improving external liquidity and better prospects for the government's debt burden to stabilize.

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