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Fitch downgrades Sri Lanka’s NDB rating to ‘A-(lka)’; Outlook Negative
Also downgraded rating assigned to NDB's Basel III-compliant subordinated debentures to 'BBB(lka)' from 'BBB+(lka)'
By Biz Editor
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We believe the incident has put pressure on the bank's capitalisation and profitability relative to that of similarly rated peers. The downgrade also reflects deficiencies in the bank's internal risk controls relative to peers. The debt rating will move in tandem with the bank's national rating.
What this story is about
People
- Fitch Ratings2
- BBB+(lka2
Organisations
- Fitch Downgrades National Development Bank2
- National Development Bank PLC2
- National Long-Term Rating2
- Basel III-compliant2
- Outlook is Negative2
- National Rating2
- NDB2
- Outlook Negative Fitch Ratings
Places
- Negative Outlook2
- Sri Lankan
- Sri Lanka
Keywords
- downgraded2
- subordinated
Names and places drawn from every article in this story. The number shows how many of them mentioned it.
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