Fitch: Sri Lankan banks views to negative

Fitch Ratings said it revised the outlook to negative from stable on the long-term issuer default ratings and national long-term ratings of the following Sri Lanka-based banks and affirmed their ratings: Bank of Ceylon, National Savings Bank and DFCC Bank plc. The change in outlook follows Fitch’s change in outlook on Sri Lanka.

Fitch also revised the outlook to negative from stable on the national long-term ratings of the following Sri Lanka-based banks and non-bank financial institutions and affirmed their ratings: People’s Bank, Commercial Bank of Ceylon plc and Serendib Finance Ltd.

At the same time, Fitch downgraded People’s Leasing & Finance plc’s national long-term rating to A+(lka) from AA-(lka) and affirmed the IDR at B- with a stable outlook.

Fitch also confirmed Hatton National Bank plc’s national long-term rating at AA-(lka) with a stable outlook.

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