Fitch Ratings Lanka has assigned Commercial Bank of Ceylon's proposed Basel II-compliant subordinated debentures of up to Rs 7 b a final National Long-Term Rating of 'AA-(lka)'.
The final rating is the same as the expected rating assigned on December 22, 2015, and follows the receipt of documents conforming to information already received
The proposed issuance, which will have tenors of five and 10 years and carry fixed coupons, will be listed on the Colombo Stock Exchange.
CB expects to use the proceeds to strengthen its Tier 2 capital base and reduce asset-and-liability maturity mismatches.
The rating on the proposed debentures will move in tandem with CB's National Long-Term Rating.
www.dailynews.lk
The final rating is the same as the expected rating assigned on December 22, 2015, and follows the receipt of documents conforming to information already received
The proposed issuance, which will have tenors of five and 10 years and carry fixed coupons, will be listed on the Colombo Stock Exchange.
CB expects to use the proceeds to strengthen its Tier 2 capital base and reduce asset-and-liability maturity mismatches.
The rating on the proposed debentures will move in tandem with CB's National Long-Term Rating.
www.dailynews.lk
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