Fitch Ratings has withdrawn the expected National Long-Term Rating of ‘BBB+(EXP)(lka)’ assigned to HNB Finance PLC’s (HNBF; A(lka)/Stable) proposed Sri Lankan rupee-denominated subordinated unsecured
debentures on 21 September 2021.
Fitch is withdrawing the expected rating as the issuance is no longer expected to convert to a final rating in the near future.
KEY RATING DRIVERS
Key rating drivers do not apply as the rating has been withdrawn.
Rating sensitivities do not apply as the rating has been withdrawn.
DATE OF RELEVANT COMMITTEE – 28 January 2022
REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY
DRIVER OF RATING
The principal sources of information used in the analysis are described in the Applicable Criteria.
PUBLIC RATINGS WITH CREDIT LINKAGE TO OTHER RATINGS
HNBF’s rating is driven by Hatton National Bank PLC’s (AA-(lka)/Stable) National Long-Term Rating.
This report was prepared by Fitch in English only. The company may prepare or arrange for translated versions of this report. In the event of any inconsistency between the English version and any translated version, the former shall always prevail. Fitch is not responsible for any translated version of this report. Additional information is available on www.fitchratings.com
The rated entity (and/or its agents) or, in the case of structured finance, one or more of the transaction parties participated in the rating process except that the following issuer(s), if any, did not participate in the rating process, or provide additional information, beyond the issuer’s available public disclosure.
• Non-Bank Financial Institutions Rating Criteria— Effective Feb. 28, 2020-Jan. 31, 2022 (pub. 29 Feb 2020) (including rating assumption sensitivity)
• National Scale Rating Criteria (pub. 22 Dec 2020)
• Bank Rating Criteria (pub. 13 Nov 2021) (including rating assumption sensitivity)
• Solicitation Status
• Endorsement Policy