Fitch rates HNB’s Basel III Sub-Debt’A(EXP)(lka)’ | Daily News

Fitch rates HNB’s Basel III Sub-Debt’A(EXP)(lka)’

Fitch Ratings has assigned Hatton National Bank PLC’s (HNB,AA-(lka)/Stable) proposed Sri Lanka rupee-denominated Basel III-compliant subordinated debentures an expected National Long-Term Rating of ‘A(EXP)(lka)’.

The notes will total RS 7 billion, mature in 10 years and include a non-viability clause. The bank plans to use the proceeds to refinance the debentures maturing in 2021, to further strengthen the Tier 2 capital baseof the bank and to support the bank’s balance-sheet growth.