Fitch Ratings has assigned State Bank of India's (SBI, BBB-/Stable) proposed senior unsecured debt an expected rating of 'BBB-(EXP)'.

The notes will constitute direct, unconditional, unsubordinated and unsecured obligations of the issuer. They will at all times rank pari passu among themselves and with all other unsubordinated and unsecured obligations of SBI.

The tenor of the issue is expected to be around five years and the notes are to be issued by SBI's London branch.

The final rating is subject to the receipt of final documentation conforming to information already received.

Shares of the bank gained Rs 1.2, or 0.47%, to trade at Rs 256.95. The total volume of shares traded was 668,422 at the BSE (2.18 p.m., Tuesday).