CARE has retained ‘CARE AAA’ rating to Tier II Bonds of Rs 425 crore of State Bank of Saurashtra considering the instrument to be of best credit quality offering highest safety and minimal credit risk.
The credit quality has further strengthened due to its parentage with SBI holding 100% stake in SBS. Boards on SBI and SBS have agreed and approved for the merger of both the banks which is to materialize after certain regulation approvals.
