Citibank NA Sri Lanka branch topped the honours list by securing a SL AAA (Triple A) national rating from Fitch Ratings Lank for its implied unsecured senior debt.
This is the first time a local bank has secured a Triple A rating from Fitch Ratings Lanka (FRL).rn
rnldblquote A Triple A rating means we are resilient to negative environmental effects, which makes us one of the most sound financial entities in Sri Lanka, dblquote Citibank CEO/Country Head, Kapila Jayawardene told journalists on Wednesday.rn
rnA Triple A rating indicates the bank has one of the lowest expectations of credit risks. rn
rnldblquote The rating indicates that Citibank is on a very strong base to meet their financial commitments on time. This capacity is not significantly vulnerable to likely events, dblquote explains Ravi Abeysuriya, CEO FRL. rn
rnAbeysuriya says Citibanks rating stems primarily from the strength of its parent Citigroup Inc. Citigroup Inc. has a AA+ international rating from Fitch Ratings Inc. and Sta