Fitch revises outlook on 5 banks, 1 NBFI to Negative

Fitch Ratings yesterday said it has revised the Outlook to Negative from Stable on the Long-Term Issuer Default Ratings (IDR) and National Long-Term Ratings of several Sri Lanka-based banks and has affirmed their ratings.

Bank of Ceylon (BOC), National Savings Bank (NSB) and DFCC Bank PLC (DFCC) have had their outlook revised under this measure. Fitch has also revised the Outlook to Negative from Stable on the National Long-Term Ratings of People’s Bank (Sri Lanka) (PB), Commercial Bank of Ceylon PLC (CB) and Serendib Finance Limited and has affirmed their ratings.

At the same time, Fitch has downgraded People’s Leasing & Finance PLC’s (PLC) National Long-Term Rating to ‘A+(lka)’ from ‘AA-(lka)’ and affirmed the IDR at ‘B-’ with a Stable Outlook. 

Fitch has also affirmed Hatton National Bank PLC’s (HNB) National Long-Term Rating at ‘AA-(lka)’ with a Stable Outlook.

For the full report see Financial Services page.