Fitch upgrades SBI, Exim Bank ratings

 Exim Bank: Long-term foreign currency IDR upgraded to 'BB -'/Stable from 'BB+'; Short-term foreign currency rating assigned at 'F3'; USD250m bonds upgraded to 'BBB-' from 'BB+', National Long-term rating affirmed at 'AAA(ind)', Support '3' placed on Rating Watch Positive.

As a result of the sovereign upgrade and consequently an improved ability of the government to provide timely support, both SBI's and Exim's Support ratings may move up to '2' from '3' in the near future, it added.