Fitch assigns Serendib Finance First-Time ‘A+(lka)’ Rating; Outlook Stable

Fitch Ratings Lanka Limited has assigned Serendib Finance Limited a National Long-Term Rating of ‘A+(lka)’. The outlook is stable.

Serendib’s rating is driven by Fitch’s view that support would be forthcoming from its parent, Commercial Bank of Ceylon PLC (CB). CB’s credit profile and its ability to support Serendib is reflected in its ‘AA(lka)’/Stable rating, which is underpinned by its standalone strength. The support assessment also takes into account CB’s 100% ownership of Serendib and a track record of support by the parent via multiple equity infusions.

 

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