Reply To:
Name - Reply Comment
Last Updated : 2024-04-19 18:04:00
ICRA Lanka has revised down the outlook of Pradeshiya Sanwardena Bank to ‘Negative’ form ‘Stable’ while affirming the issuer rating at ‘A’.
The rating agency has also revised the rating outlook on the bank’s Rs.2.5 billion listed, subordinated, unsecured, redeemable debenture and Rs.2 billion subordinated, unsecured, redeemable debenture to ‘Negative’ from ‘Stable’.
The ratings on the debenture issues have been reaffirmed at ‘A-’.
The bank said it has been experiencing some portfolio quality issues from the beginning of the year 2018, mainly due to weather conditions.
“This situation has been considered by ICRA Lanka Limited as significant and reaffirmed the issuer rating of ‘A-’ on the Rs.2.5 billion listed, subordinated, unsecured, redeemable debenture while revising the outlook of the rating to ‘Negative’ from ‘Stable.’”
However, the bank said it remains optimistic as the situation would be back to normal towards the end of the year and said it expects to make an application for a fresh rating review.
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
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
A recent post on social media revealed that three purple-faced langurs near t