Who wrote this article?

Deepak Shenoy, Capitalmind's research team.

Moody’s downgrades SBI

4 Oct 2011Deepak Shenoy1 min read

Quick Facts

What is "Moody’s downgrades SBI" about?
What category is this article in?: Stocks
Who wrote this article?: Deepak Shenoy, Capitalmind's research team.
When was this article published?: Published 4 October 2011.
How long does this article take to read?: 1 min read
What topics does this article cover?: Banks

Markets are down 1.5% in a sudden move after Moody’s downgraded SBI, India’s largest bank. The Rating goes to D+ from C-.

“Moody’s Investors Service has downgraded the State Bank of India’s (SBI) bank financial strength rating (BFSR), or stand-alone rating, to D+ from C-. The revised rating maps to a baseline credit assessment (BCA) of Baa3. As a result of the lower BCA, the Hybrid debt rating was downgraded to Ba3(hyb) from Ba2(hyb),” a statement from the ratings agency said.

The stock is down 5% on reasonable volumes, at 1765.

SBI Chart