Moody’s affirms ratings of BOC, HNB & Sampath; maintains negative outlook

July 26, 2018 (LBO) – Moody’s Investors Service has affirmed the local currency deposit ratings of Bank of Ceylon (BOC), Hatton National Bank Ltd. (HNB) and Sampath Bank PLC at B1/NP.

The foreign currency issuer rating and deposit ratings of these banks are also affirmed at B1 and B2/NP respectively.

Moody’s has also affirmed the Baseline Credit Assessments (BCAs) and adjusted BCAs of these banks at b1. As a result, their local and foreign currency Counterparty Risk Ratings (CRRs) are affirmed at Ba3/NP. Their Counterparty Risk Assessments (CRAs) are also affirmed at Ba3(cr)/NP(cr).

The rating outlooks of the banks, where applicable, are maintained at negative. The rating action follows the affirmation of Sri Lanka’s B1 sovereign rating and negative outlook on 26 July 2018.