Bank of Ceylon’s Basel III debentures rated ‘A(EXP)(lka)’ by Fitch

Bank of Ceylon’s Basel III debentures rated ‘A(EXP)(lka)’ by Fitch

ECONOMYNEXT – Bank of Ceylon’s proposed Basel III-compliant subordinated unsecured debentures of up to 15 billion rupees has been assigned an expected national long-term rating of ‘A(EXP)(lka)’ by Fitch Ratings. BOC’s Sri Lankan rupee-denominated subordinated debt is rated two notches below the bank’s National Long-Term Rating anchor. “Fitch assumes that the authorities would step in late, moving the point of non-viability close to liquidation,”…