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Fitch acts on 6 Sri Lanka banks
Fitch Ratings said it took actions on six Sri Lankan regional development banks.
Kandurata Development Bank was upgraded to BBB+(lka) from BBB(lka) and its outlook was revised to stable.
Sabaragamuwa Development Bank was upgraded to BBB(lka) from BBB-(lka) and its outlook is positive.
The ratings were upgraded due to sustained improvements in their financial profiles, the agency said. Rajarata Development Bank's rating was affirmed at BBB+(lka) with a stable outlook.
Ruhuna Development Bank's rating was affirmed at BBB+(lka) with a stable outlook.
Wayamba Development Bank's rating was affirmed at BBB+(lka) with a stable outlook.
Uva Development Bank's rating was affirmed at BBB(lka) with a positive outlook.
The ratings recognize these banks have had consistent profitability of 0.9% to 1.6% in 2009, Fitch said.
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