Fitch Ratings assigned a BBB- final rating to State Bank of India's (NSE:SBIN, BOM:500112) $500 million senior unsecured notes, according to a Tuesday release.

The notes, due August 2031, serve as the bank's direct, unconditional, unsubordinated, and unsecured obligations, ranking equally at all times with all of its other unsubordinated and unsecured obligations.

The bank's London branch guarantees the securities.

The notes' rating is equivalent to the bank's long-term issuer default rating, with any action on the latter expected to result in a similar action on the notes.