Fri, 29 Mar 2024 Today's Paper

Fitch revises outlook to Stable on three Lankan financial institutions

By

16 February 2017 12:00 am - 0     - {{hitsCtrl.values.hits}}

A A A

Fitch Ratings has revised the outlook on Bank of Ceylon (BOC, B+/Stable), National Savings Bank (NSB, B+/Stable) and People’s Leasing & Finance PLC (PLC, B/Stable) to Stable from Negative and affirmed their Long-Term Issuer Default Ratings (IDR).
The rating action follows the 9 February 2017 Outlook revision on Sri Lanka’s sovereign rating (B+/Stable) to Stable from Negative. 
The IDRs, Support Rating and Support Rating Floors of BOC and NSB reflect Fitch’s expectation of extraordinary support from the sovereign. Their ratings are equalized with the sovereign. Fitch sees state support for BOC stemming from its high systemic importance and quasi-sovereign status while state support for NSB stems from its policy mandate. PLC’s ratings differ by one notch from those of the sovereign, as we expect sovereign support to flow through its parent, the state-owned and systemically important People’s Bank (Sri Lanka) (AA+(lka)/Stable). The Stable Outlook on the IDRs of BOC, NSB and PLC reflect the Stable Outlook on the sovereign’s rating.
Changes to the sovereign rating or perception of state support to BOC and NSB could result in a change in the lenders’ ratings. PLC’s ratings are also sensitive to changes in the sovereign rating, as this would affect People’s Bank’s ability to provide support to its subsidiary. PLC’s ratings are also sensitive to People’s Bank’s propensity to provide support.

 


Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

  Comments - 0

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

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





Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

VAT increase: SOUNDs death knell for publishers, readers

Though the Government imposed VAT (Value Added Tax) on vegetables and other e

How female change-makers are driving Sri Lanka’s energy saving platform

Saving energy has become more of a responsibility than a habit in today’s c

A dull Ramadan awaits Muslims amidst the Soaring Cost of Living

In the coming days, Muslims across the world will welcome the Holy Month of R

New wildlife underpass to curtail HEC

As of February 2024, Sri Lanka lost another 38 elephants as a result of the H