Fitch rates National Development B+

Fitch Ratings said it assigned B+ issuer default ratings to National Development Bank plc's long-term foreign- and local-currency with stable outlooks.

Fitch also assigned National Development a B+ viability rating, a support rating of 4 and support rating floor of B.

NDB's long-term issuer default rating reflects its standalone risk profile and satisfactory track record as a project financing institution with historically stronger capitalization, asset quality and profitability compared with other major financial institutions in Sri Lanka, the agency said.

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