Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Fitch Affirms and Withdraws Sri Lanka's HDFC Bank Rating
Sat, Jun 28, 2014, 12:31 am SL Time, ColomboPage News Desk, Sri Lanka.

June 27, Colombo: Fitch Ratings Lanka has affirmed the Housing Development Finance Corporation Bank of Sri Lanka's (HDFC Bank) National Long-Term Rating at 'BBB(lka)' with a Stable Outlook and has simultaneously withdrawn the rating.

The rating has been withdrawn as it is no longer considered by Fitch to be relevant to the agency's rating coverage.

Fitch Ratings said it will no longer provide ratings and analytical coverage of HDFC Bank.

HDFC Bank's rating reflects Fitch's expectation that the bank would receive extraordinary support from the state, if needed, given that the state effectively holds 51% of the bank.

It also reflects Fitch's view of the bank's quasi-policy role in supporting the state's initiatives to develop more housing for low and middle-income families.

However, the potential for state support is lower than for larger state-owned banks in Sri Lanka due to HDFC Bank's lower systemic importance, the global rating agency said.

ColomboPage - Recent 10 Stories
Sri Lanka President concerned about escalating terrorism, even in Canada
-- [1 hour and 35 minutes ago]
Fire destroys row of shops in Sri Lankan capital
-- [1 hour and 55 minutes ago]
Sri Lanka National Chamber conducts Budget Seminar 2015
-- [2 hours ago]
Sri Lankan President prepares to present the budget 2015 to parliament tomorrow
-- [2 hours ago]
MRL Corporation starts key test work on Sri Lanka graphite
-- [3 hours ago]
Tamil Nadu political leaders advise Modi not to have closer defense ties with Sri Lanka
Sri Lankan President opens cricketer Dilshan's luxury hotel
Belarus MPs to focus on economic ties during next month's visit to Sri Lanka
CaFFE and CHR condemn attack on Sri Lanka university students
Sri Lanka Army to assist Bangladesh Army to set up a women corps unit

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.