Fitch rates ComBank’s Basel III Subordinated Debt

Fitch Ratings has assigned Commercial Bank of Ceylon PLC’s (COMB, A(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III compliant subordinated debentures of up to LKR 20 billion an expected National Long Term Rating of ‘BBB+(EXP)(lka)’.

The proposed debentures, which will have maturities of five, seven and 10 years, will be listed on the Colombo Stock Exchange. The bank plans to use the proceeds to further strengthen its Tier 2 capital base, reduce maturity mismatches in the balance sheet and support loan growth.

The post Fitch rates ComBank’s Basel III Subordinated Debt appeared first on DailyNews.