Fitch assigns HNB’s Basel III Subordinated Debt Final ‘BBB+(lka)’

Fitch Ratings has assigned Hatton National Bank PLC’s (HNB, A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to Rs 12 billion a final National Long-Term Rating of ‘BBB+(lka)’.

The final rating is the same as the expected rating assigned on April 4, 2024 and follows the receipt of documents conforming to information already received. The proposed debentures will mature in five, seven and 10 years and will be listed on the Colombo Stock Exchange. HNB plans to use the proceeds to further strengthen its Tier 2 capital base, support loan growth and reduce maturity mismatches in the balance sheet.

The bank expects the proposed debentures to qualify as Basel III-compliant regulatory Tier 2 capital.

The post Fitch assigns HNB’s Basel III Subordinated Debt Final ‘BBB+(lka)’ appeared first on DailyNews.