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Bank of Sri Lanka's (HDFC Bank) National Long-Term Rating at 'BBB(lka)' with a Stable Outlook and has simultaneously withdrawn the rating.

The rating has been withdrawn as it is no longer considered by Fitch to be relevant to the agency's rating coverage.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 to declare 2017 as the year to liberate the country from poverty
-- [8 hours ago]
Government created a conducive environment in North for people to live a normal life - FM
-- [8 hours ago]
U.S. Navy ship Frank Cable arrives at port of Colombo in Sri Lanka
-- [9 hours ago]
Finance Minister invites SAARC nations to invest in Sri Lanka's Financial City
-- [9 hours ago]
World Bank support of US$ 202 mn to improve livability and infrastructure in three major cities of Sri Lanka
The Lanka Hospital Corporation appoints new chief executive officer
Teenager arrested for hacking Sri Lankan President's website
LTTE leader's name may be submitted to OMP as a missing person - report
Prime Minister says a full reorganization of Sri Lanka's sports field urgently needed
Ven. Uduwe Dhammaloka seeks court's permission to travel abroad

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.