September 02, 2014 (LBO) – Fitch Ratings has assigned Sri Lanka-based National Savings Bank’s (NSB; BB-/Stable) proposed issue of US dollar-denominated notes an expected rating of ‘BB-(EXP)’, the rating agency said in a media release. RATING SENSITIVITIES>b/>

Any change in Sri Lanka’s rating or to the perception of state support to NSB could result in a change in NSB’s IDRs and hence the rating of the notes.

NSB’s ratings are:

Long-Term Foreign Currency IDR: ‘BB-‘; Outlook Stable

Long-Term Local Currency IDR: ‘BB-‘; Outlook Stable

Short-Term Foreign Currency IDR: ‘B’

Support Rating: ‘3’

Support Rating Floor: ‘BB-‘

US dollar senior unsecured notes: ‘BB-‘

National Long-Term Rating: ‘AAA(lka)’; Outlook Stable FITCH MEDIA RELEASE

The final rating is contingent upon receipt of final documents conforming to information already received.

The proceeds are to be used for general corporate purposes.


The notes are rated at the same level as NSB’s Long-Term Foreign Currency Issuer Default Rating (IDR) of ‘BB-‘ as they rank equally with the bank’s other senior unsecured obligations.

NSB’s IDRs are based on the government of Sri

Notify of
Inline Feedbacks
View all comments