CRISIL has enhanced SBI Card’s rating on total bank loan facilities to ₹57,000 Crore from ₹51,000 crore. It also reaffirmed the CRISIL AAA/Stable rating for long term and CRISIL A1+ rating for short term debt. These ratings indicate a high degree of safety regarding timely payment of financial obligations.
Enhanced Credit Ratings
SBI Cards & Payment Services has received enhanced and reaffirmed credit ratings from CRISIL. The total bank loan facilities have been rated at ₹57,000 Crore, increased from a previous rating of ₹51,000 crore.
Key Rating Reaffirmations
CRISIL reaffirmed the following ratings for SBI Card’s debt instruments:
- Long Term Rating: CRISIL AAA/Stable
- Short Term Rating: CRISIL A1+
- Lower Tier II Bonds: CRISIL AAA/Stable (for ₹1,500 Crore)
- Commercial Paper: CRISIL A1+ (for ₹34,000 Crore)
- Lower Tier II Bonds Aggregating ₹3,800.2 Crore: CRISIL AAA/Stable
- Non-Convertible Debentures Aggregating ₹6,550Crore (reduced from ₹7,800 Crore): CRISIL AAA/Stable
These ratings indicate a stable outlook and the highest degree of safety for investors.
Source: BSE