International credit rating agency Fitch Ratings Lanka has revised the National Long-Term Ratings and Outlook of NDB Bank. The decision was announced in a latest report issued on the 10th.
NDB Bank’s National Long-Term Rating, which was previously at ‘A(lka)’, has been downgraded to ‘A-(lka)’.
In addition, Fitch Ratings has revised the outlook on the bank’s future financial stability from ‘Stable’ to ‘Negative’.
The rating for the bank’s Basel III-compliant subordinated debentures has also been downgraded. Accordingly, the debt rating has been revised from ‘BBB+(lka)’ to ‘BBB(lka)’.