HNB FINANCE gets Fitch rating upgraded to 'AA-(lka)'

Business

Sri Lankan financial services provider HNB FINANCE, recently had its National Long-term rating upgraded to 'AA-(lka)' with a negative outlook following the recalibration of Fitch's rating scale for Sri Lanka.
The recalibration was conducted to reflect changes in the relative creditworthiness among Sri Lankan issuers following Fitch's downgrade of the sovereign rating after comprehensive industry analysis. HNB FINANCE's revised rating reflects the outlook on the ratings of its parent company HNB PLC – Sri Lanka's largest private sector bank, the company said in a media release.
"The upward revision of HNB FINANCE's National Long Term Rating is a reflection of our proven ability to deliver exceptional financial services over the past 19 years. As our country's economy begins to recover from the disruptions caused by COVID-19 pandemic, we will remain committed to fostering continuous growth and uplifting communities across the island," HNB FINANCE Managing Director, Chaminda Prabhath said.
The revision of HNB FINANCE's rating follows the company’s shares being listed on the Colombo Stock Exchange under the Diri-Savi Board.

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