Fitch Ratings has placed Sri Lanka s Bank of Ceylon on watch for possible downgrade as forex shortages worsened after two years of money printing under a highly discretionary flexible inflation targeting regime with a reserve collecting peg.
Fitch Ratings has placed the National Long-Term Ratings of 13 Sri Lankan banks on Rating Watch Negative (RWN). The banks are: -People’s Bank (Sri Lanka) (PB) -Commercial Bank of Ceylon PLC -Hatton National Bank PLC -Sampath Bank PLC -National Development Bank PLC -DFCC Bank PLC -Seylan Bank PLC -Nations Trust Bank PLC -Pan Asia Banking.
Fitch Ratings has placed has placed 13 state and private banks in Sri Lanka under watch for possible downgrade (rating watch negative) due to forex shortages in the banking system.
Fitch Ratings has withdrawn the expected National Long-Term Rating of 'BBB+(EXP)(lka)' assigned to HNB Finance PLC's (HNBF; A(lka)/Stable) proposed Sri Lankan rupee-denominated subordinated unsecured debentures on 21 September 2021.
Fitch is withdrawing the expected rating as the issuance is no l