S&P lowers DFCC Bank view to stable

S&P said it revised the outlook on DFCC Bank to stable from negative.

The agency also said it affirmed the B long-term and B short-term issuer credit ratings on DFCC Bank, along with the senior unsecured debt ratings on the bank.

S&P also said it removed the long-term rating from under criteria observation (UCO), where it was placed after the revised criteria went into effect.

The outlook revision was due to an expectation that the bank will maintain a satisfactory franchise and profitability compared with that of its peers in Sri Lanka, the agency explained.

The bank's weak capitalization and limited deposit base tempers these strengths, S&P said.

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