Fitch rates DFCC Bank’s senior debt final ‘Aa-(lka)’

Fitch Ratings has assigned DFCC Bank PLC’S (DFCC: Aa-(lka)/stable) proposed Sri Lanka rupee-denominated senior debentures a final National Long-term Rating of ‘Aa-(lka)’ The notes, which will total up to Rs.10 billion, will mature in five, seven and 10 years and carry fixed coupons. The bank plans to use the proceeds to support its loan expansion. The debentures are to be listed on the Colombo Stock Exchange. The final rating is the same as the expected rating assigned on January 30, 2019 and follows the receipt of documents conforming to information already received.