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Bank of Sri Lanka's (HDFC Bank) National Long-Term Rating at 'BBB(lka)' with a Stable Outlook and has simultaneously withdrawn the rating.

The rating has been withdrawn as it is no longer considered by Fitch to be relevant to the agency's rating coverage.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 Lankan university students to hold protest march in Colombo tomorrow
-- [7 hours ago]
British envoy wishes Sri Lankan team success at Commonwealth Games
-- [7 hours ago]
Tamil Nadu Chief Minister opposes installing buoys on the IMBL between India and Sri Lanka
-- [8 hours ago]
Vietnam, Sri Lanka to work closely in fighting transnational crime
-- [8 hours ago]
Sri Lanka Navy arrests 38 Indian fishermen for poaching
-- [9 hours ago]
Sri Lanka's Western Provincial Council Chief Minister accused of assaulting a man
-- [9 hours ago]
Extremist Sri Lankan Buddhist monk hits hack at Dalai Lama
-- [9 hours ago]
Absconding ruling party legislator in Sri Lanka surrenders to court
Tanzania looks forward to further strengthening bilateral ties with Sri Lanka
Sri Lankan President orders to remove taxes on loan interests of financial sector employees

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.