Sri Lanka, May 2 -- Fitch Ratings has assigned Bank of Ceylon's (BOC, CCC+/CCC+/AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated debentures of up to LKR15 billion a final National Long-Term Rating of 'A(lka)'.
The final rating is the same as the expected rating assigned on 2 April 2025, as it follows the receipt of documents conforming to information already received.
Key Rating Drivers
The proposed debentures will mature in five years and be listed on the Colombo Stock Exchange. The bank plans to use the proceeds to strengthen its Tier 2 capital base and liquidity position, bridge maturity mismatches, and support the expansion of its asset base.
The proposed debentures will qualify as Basel III-co...