Fitch Affirms HSBC Sri Lanka at AAA

Fitch Ratings Lanka has affirmed HSBC Sri Lanka's (HSBCSL) National Long-Term rating at 'AAA(lka)'. The Outlook is Stable

“The rating reflects the financial strength of the Hong Kong & Shanghai Banking Corporation Limited (HKB; 'AA'/Stable), given that HSBCSL is a branch and part of the same legal entity as HKB. Thus, Fitch believes that support from the latter would be forthcoming if required, subject to any regulatory constraints on remitting money into Sri Lanka. HKB is rated above Sri Lanka's sovereign Issuer Default Rating of 'BB-'/Stable Outlook” Fitch said.