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Bank of Sri Lanka's (HDFC Bank) National Long-Term Rating at 'BBB(lka)' with a Stable Outlook and has simultaneously withdrawn the rating.

The rating has been withdrawn as it is no longer considered by Fitch to be relevant to the agency's rating coverage.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
Legal avenues to prosecute Sri Lanka's Defense Secretary for war crimes presented to U.S. Congress
-- [24 minutes ago]
Australia sends Sri Lankan asylum seekers to Nauru
-- [59 minutes ago]
Sri Lanka exports record highest first half earnings this year
-- [1 hour and 42 minutes ago]
Four suspects arrested in connection with the abduction of four-year-old in Sri Lanka
-- [3 hours ago]
Troubled glove maker of Sri Lanka posts steady financial performance in Q1 2014
Historic Kandy Esala Perahera in Sri Lanka begins today
Sri Lanka Marxist party rejects accusation of killing TV presenter 25 years ago
Sri Lanka Central Bank's Monetary Board approves19 proposals for consolidation of financial institutions
Sri Lanka government allocate Rs. 1.9 billion to provide drought relief to affected people
Body of the witness of a case against Sri Lanka's ruling party politician found in a well

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.