Global rating agency Standard and Poor’s (S&P) has affirmed the rating for State Bank of India at “BBB-/A-3′ with a stable outlook. It, however, ruled out any upgrade for SBI’s rating for the next 18-24 months. The rating on SBI is expected to move in tandem with India’s sovereign credit rating. S&P does not see any upside potential because it will not rate the bank above the sovereign. “We do not expect to upgrade the sovereign rating on India in the next 18-24 months”, the rating agency said. The affirmed rating on SBI reflects the bank’s undisputed market leadership in India, supported by a strong domestic franchise and high customer confidence,” said S&P Global Ratings credit analyst Amit Pandey.