Fitch withdraws expected ratings on HNB’s senior debentures

Fitch Ratings has withdrawn the expected rating of ‹AA-(lka)(EXP)› assigned to Hatton National Bank PLC›s proposed senior unsecured debentures as the Bank no longer expects to proceed with the senior debt issue.

The expected rating was assigned on 4 September 2015 with a stable outlook.

HNB›s proposed issuance of up to Rs. 10 billion will now comprise of subordinated debentures only.

Fitch assigned the proposed subordinated debentures a rating of ‹A+ (lka) (EXP)› on 4 September 2015.

The bank has been assigned ratings by HNB as follows; National Long-Term Rating: ‹AA-(lka)›; Outlook Stable, Sri Lanka rupee-denominated senior unsecured debentures: ‹AA-(lka)›, Basel II compliant outstanding subordinated debentures: ‹A+ (lka) and Proposed Basel II compliant subordinated debentures: ‹A+ (lka) (EXP)›.