Moody’s affirms Sri Lankan banks

Moody's Investors Service said it affirmed the local currency deposit ratings of Bank of Ceylon, Hatton National Bank Ltd. and Sampath Bank plc at B1/NP.

The foreign currency issuer rating and deposit ratings of the banks were also affirmed at B1 and B2/NP, respectively.

The agency also affirmed the baseline credit assessments and adjusted baseline credit assessments of the banks at b1. As a result, their local and foreign currency counterparty risk ratings were affirmed at Ba3/NP.

The counterparty risk assessments were also affirmed at Ba3(cr)/NP(cr).

The outlooks were maintained at negative.

Moody’s said the decision to affirm the ratings reflects the agency’s affirmation of Sri Lanka's sovereign rating and outlook, as well as the banks' stable standalone credit profiles.

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