Fitch Ratings Lanka has affirmed Standard Chartered Bank, Sri Lanka Branch’s (SCBSL) National Long-Term Rating at ‘AAA(lka)’. The Outlook is Stable.
SCBSL’s rating is at the highest end on the National Rating scale for Sri Lanka and reflects the credit profile and financial strength of its head office - Standard Chartered Bank (SCB: A+/Stable/a). It also reflects Fitch’s expectation of continued strong parental support, if required, as SCBSL is a branch of SCB and forms part of the same legal entity. The relatively small size of the branch (less than 0.2% of the total assets of SCB) implies that support, if needed, would not be material to the head office.
SCB’s Long-Term Issuer Default Rating (IDR) is higher than Sri Lanka’s Long-Term Local- and Foreign-Currency IDRs of ‘B+’/Stable and as a result SCBSL’s rating on the National Rating scale is mapped to ‘AAA(lka)’.
0 comments: