Fitch Ratings Lanka has affirmed Standard Chartered Bank, Sri Lanka Branch's (SCBSL) National Long-Term rating at 'AAA(lka)'. The Outlook is Stable.
SCBSL's rating is at the highest end of the National Rating scale and reflects the financial strength of its head office, Standard Chartered Bank PLC (SCB). The rating is tied to SCB's Issuer Default Rating (IDR) of 'AA-'/Negative, given SCBSL's legal status as a branch of SCB and that SCBSL is part of the legal entity that is SCB.
SCB's IDR is higher than Sri Lanka's long-term foreign currency IDR of 'BB-'/Stable.