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) [...]

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SBI’s four bonds listed today. First question: Why are there four bonds? Well, each of the two types – 10 and 15 years – had two options: for retail (individuals, 5 lakhs or less) and the rest. Also see: "SBI Will Sell Bonds at 9.95%" &#1…

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State Bank of India has a new bond issue out (Shelf Prospectus). Size: Upto 10,000 crores from retail, but official issue size is 2,000 crores. Listed: Yes, on the NSE/BSE. Interest rates: 9.95% for retail on the 15 year bonds, and 9.75% fo…

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State Bank of India had its results out today. After a pretty lousy Q3 in FY 2009, one would have expected great things this year – the low base effect. But the results are surprisingly bad. Consolidated revenues were at 32,231 crores (up 6%) but pr…

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