Sri Lanka, July 22 -- Fitch Ratings has assigned Commercial Bank of Ceylon PLC's (COMB; AA-(lka)/Stable) proposed Sri Lankan rupee-denominated Basel III-compliant subordinated green bonds 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 7 April 2025 and follows the receipt of documents conforming to information already received.
Key Rating Drivers
The proposed bonds, which will mature in five, seven and 10 years, will be listed on the Colombo Stock Exchange. The bank plans to use the proceeds to strengthen its Tier 2 capital base as well as to expand the bank's green lending portfolio.
The proposed bonds will qualify as Basel III-compliant regulatory Ti...