Moody's lowers three Sri Lanka banks

Moody's Investors Service said it downgraded the long-term local-currency deposit and foreign-currency issuer ratings of Bank of Ceylon, Hatton National Bank Ltd. and Sampath Bank plc to B2 from B1.

Moody's also said it downgraded the long-term foreign-currency deposit ratings of the same three banks to B3 from B2.

Moody's also affirmed the short-term local- and foreign-currency deposit ratings on the banks at NP (not-prime.)

The outlooks on the banks were revised to stable from negative.

The downgrades follow the similar downgrade of Sri Lanka's sovereign rating to B2 from B1, Moody's said.

The outlook revision reflects the change in the sovereign's outlook to stable from negative, the agency added.

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