Fitch Ratings has affirmed the support-driven National Long-Term Ratings of four Sri Lankan bank subsidiary finance and leasing companies (FLCs). The Outlooks are Stable.
The four FLCs are:- CBC Finance LTD (CBCF) at ‘BBB+(lka)’;- HNB Finance PLC (HNBF) at ‘BBB+(lka)’; – Siyapatha Finance PLC at ‘BBB+(lka)’; and UB Finance PLC (UBF) at ‘BB(lka)’.
At the same time, Fitch has removed the Rating Watch Negative (RWN) on the four FLCs’ National Long-Term Ratings as well as HNBF’s and Siyapatha’s subordinated debt ratings. The rating action on the four FLCs stems from similar action on their respective parent banks’ ratings.
On October 5, 2023, Fitch affirmed the National Long-Term Ratings of Commercial Bank of Ceylon PLC, Hatton National Bank PLC and Sampath Bank PLC at ‘A(lka)’ and Union Bank of Colombo PLC at ‘BBB-(lka)’, with Stable Outlooks, and removed the banks from RWN.
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