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Published on 7/1/2019 in the Prospect News Emerging Markets Daily.

Fitch rates HNB debentures A-(lka)

Fitch Ratings said it assigned HNB Finance Ltd.'s (A(lka)/stable) proposed Sri Lanka rupee-denominated subordinated debentures an expected national long-term rating of A-(lka).

The proposed issuance is to total LKR 2 billion.

The debentures will mature in five years and carry fixed coupons.

The agency said the proposed subordinated debentures are rated one notch below HFL's national long-term rating to reflect the subordination to senior unsecured obligations.


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