Apr 20, 2020 (LBO) – Moody's Investors Service has placed the B2 long-term local currency deposit and foreign currency issuer ratings of Bank of Ceylon (BOC), Hatton National Bank (HNB) and Sampath Bank on review for downgrade.
At the same time, Moody's has downgraded the Baseline Credit Assessment (BCA) of BOC to b3 from b2 and placed it on review for further downgrade.
Moody's has also placed the b2 BCAs of HNB and Sampath on review for downgrade.
The outlooks have been changed to rating under review from stable.
The rating actions follow Moody's placement of Sri Lanka's B2 sovereign rating on review for downgrade.