Fitch rates DFCC Bank notes B+

Fitch Ratings said it assigned a final rating of B+ with a recovery rating of RR4 to DFCC Bank's $100 million senior unsecured notes due October 2018.

The rating follows the receipt of documents conforming to the information previously received. The final rating is in line with expected rating that Fitch assigned in September.

The notes have a maturity of five years and coupon payments will be at a fixed rate of 9 5/8% on a semi-annual basis.

The notes are rated at the same level as the bank's long-term foreign-currency issuer default rating as they constitute direct, unsecured and unsubordinated obligations of the issuer, Fitch said.

The bank also has a short-term foreign-currency issuer default rating of B, viability rating of B+, national long-term rating of AA-(lka), senior unsecured debentures rating of AA-(lka) and subordinated debentures rating of A+(lka).

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.