Lankapage Logo Recent Top Stories
Go Home Home Serving the Sri Lankan community globally since 2000
go to

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Bank of Sri Lanka's (HDFC Bank) National Long-Term Rating at 'BBB(lka)' with a Stable Outlook and has simultaneously withdrawn the rating.

The rating has been withdrawn as it is no longer considered by Fitch to be relevant to the agency's rating coverage.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
Indian Foreign Secretary arrives in Sri Lanka with a business delegation
-- [0 minutes ago]
Sri Lanka to set up an international multi intelligence unit to combat illicit drug trade
-- [10 minutes ago]
Sri Lankan President reiterates commitment to achieve development through renewable energy generation
-- [47 minutes ago]
Sri Lanka, India navies discuss maritime security at the 27th IMBL meeting aboard Indian naval ship
A 'Bulb for a Bulb'-EFL returns with annual green campaign
Jaffna Police mistook the students for a motorcycle gang and fired - Law and Order Minister
Ceiling on prices of 48 pharmaceutical drugs come into force from today
Sri Lankan President orders independent Inquiry into the Jaffna University students' deaths
Sri Lanka President to visit Iran later this year
Sri Lanka Navy ships leave for training visit to India

Copyright © 2000, 2014 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, 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, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.