SBI Downgraded by Moody and today Closing is @208.....it will go up from here Onwards

 

Moody’s downgrades SBI standalone profile, expects asset quality to worsen

The rating agency has, however, affirmed SBI's long term and foreign currency deposit ratings at Baa 

Service has downgraded State Bank of India's standalone profile to ba2 from ba1 saying it sees SBI's asset quality and profitability deteriorating.

The rating agency, however, affirmed SBI's long term local and foreign currency deposit ratings at Baa3, the same level as India's sovereign rating.

"The downgrade of SBI's BCA to ba2 from ba1 reflects Moody's view that the bank's asset quality and profitability will deteriorate. The resultant weakening in the internal capital generation will reverse improvements in the bank's financial metrics achieved over the past two years," Moody's said in a  report.

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SBI's ba2 BCA takes into account the bank's strong funding and liquidity a result of its dominant market position, and its important links to government transaction-related businesses which support its stable funding franchise. As of the end of March 2020, SBI's liquidity coverage ratio (LCR) was healthy at 134 percent, as per the report.