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Fitch rates Seylan Bank notes BBB+
Fitch Ratings said it assigned Seylan Bank plc's planned Sri Lankan rupee-denominated, Basel III-compliant subordinated unsecured debentures an expected national long-term rating of BBB+(lka).
The agency affirmed the BBB+(lka) rating on Aug. 3.
Seylan will sell LKR 6 billion of notes due in five years and expects the debentures to qualify as Basel III-compliant regulatory tier 2 capital.
The outlook is stable.
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