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Fitch lowers Bank of Ceylon
Fitch Ratings said it lowered the Bank of Ceylon’s local-currency issuer default rating to CCC- from CCC and left it on rating watch negative. The agency affirmed the bank’s foreign-currency IDR at RD, or restricted default.
The downgrade follows a similar action on Sri Lanka’s local-currency IDR to CC from CCC on Dec. 1, the agency said.
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