HNB gets int'l rating

Sri Lanka’s Hatton National Bank PLC (HNB) yesterday received an international credit rating from Moody’s Investors Service.

 

According to a statement by Moody’s the rating assigned to HNB were; Local currency deposits: B1/NP, Foreign currency deposits : B2/NP , Foreign currency senior unsecured debt : B1 and  Foreign currency issuer rating : B1.

 

“This is the first assignment of international ratings for HNB. These ratings and outlooks take into account the balance of strengths and weaknesses characterizing HNB’s credit profile on a standalone basis, as well as our assumptions on the probability of government support in times of stress, which we assess as moderate. At E+ / b1, our support assumption does not result in any rating uplift,” the statement said.