Reply To:
Name - Reply Comment
Last Updated : 2024-04-24 11:56:00
Fitch Ratings yesterday assigned Hatton National Bank PLC’s (HNB, AA-(lka)/Stable) proposed subordinated debentures of up to Rs.7 billion a final national long-term rating of ‘A+(lka)’.
The assignment of the final rating follows the receipt of documents conforming to information already received and the final rating is the same as the expected rating assigned for the subordinated debt on September 4, 2015.
The issue will have a tenor of five years with fixed coupon payments. HNB expects to use the proceeds to reduce asset and liability maturity mismatches while improving its Tier II capital base.
The proposed subordinated debentures are rated one notch below HNB’s national long-term rating, to reflect the subordination to senior unsecured creditors.
HNB’s rating reflects its strong franchise, satisfactory capitalisation, established track record and higher risk appetite than its better-rated peers.
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
US authorities are currently reviewing the manifest of every cargo aboard MV
On March 26, a couple arriving from Thailand was arrested with 88 live animal
According to villagers from Naula-Moragolla out of 105 families 80 can afford
Is the situation in Sri Lanka so grim that locals harbour hope that they coul