Fitch assigns BOC’s US$ Senior Notes Final ‘BB-’ rating

Fitch Ratings has assigned Sri Lanka-based Bank of Ceylon’s (BOC) US$ 500 m senior unsecured notes due 2017 a final rating of ‘BB-’.

This rating follows the completion of the notes issue and the receipt of documents conforming to information previously received.

The final rating is the same as the expected rating assigned on 17 April 2012. The notes are rated at the same level as BOC’s ‘BB-’Long-Term Foreign-Currency Issuer Default Rating (LT FC IDR). The notes carry an interest rate of 6.875% per annum.