New Delhi, Oct. 24 -- ICRA has reaffirmed the credit ratings of SBI Cards and Payment Services Limited, alongside enhancing its term loan limits, the credit card issuer said in a stock exchange filing on Friday. This move reflects the company's robust financial standing and its strategic importance to the State Bank of India (SBI). The development underscores SBI Cards' commitment to maintaining a strong position in the domestic credit card industry, supported by its parent company.

The credit ratings reaffirmed by ICRA include AAA (Stable) for non-convertible debentures, subordinated debt, and long-term/short-term bank lines, along with A1+ for commercial paper programs. Notably, the term loan limit has been increased from Rs.10,000 cro...