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Fitch affirms ratings on 15 Sri Lankan Banks; removes Watch Negative

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Fitch Ratings – Colombo: Fitch Ratings has affirmed Bank of Ceylon’s (BOC) Long-Term Local-Currency Issuer Default Rating (IDR) at ‘CCC-’ and removed it from Rating Watch Negative (RWN). The Outlook is Stable.

At the same time, Fitch has affirmed the National Long-Term Ratings of the following banks, removed them from RWN and assigned Stable Outlooks: BOC at ‘A(lka)’, People’s Bank (Sri Lanka) at ‘A(lka)’, Commercial Bank of Ceylon PLC at ‘A(lka)’, Hatton National Bank PLC at ‘A(lka)’, Sampath Bank PLC at ‘A(lka)’, National Development Bank PLC at ‘A-(lka)’, Seylan Bank PLC at ‘A-(lka)’, DFCC Bank PLC at ‘A-(lka)’, Nations Trust Bank PLC at ‘A-(lka)’, Pan Asia Banking Corporation PLC at ‘BBB-(lka)’, Union Bank of Colombo PLC at ‘BBB-(lka)’, Amana Bank PLC at ‘BB+(lka)’ and Sanasa Development Bank PLC at ‘BB+(lka)’ Housing Development Finance Corporation Bank of Sri Lanka at ‘BB+(lka)’

The RWN on these banks’ senior and subordinated debt ratings, where assigned, has also been removed.

The post Fitch affirms ratings on 15 Sri Lankan Banks; removes Watch Negative appeared first on DailyNews.

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