Fitch rates DFCC’s senior debt up to Rs.5bn at ‘AA-(EXP)(lka)’

Fitch Ratings has assigned DFCC Bank PLC’s (AA-(lka)/Negative) proposed Sri Lanka rupee-denominated senior unsecured, unlisted debentures an expected National Long-Term Rating of ‘AA-(EXP)(lka)’. 

The notes, which will total up to Rs.5 billion, will mature in five years and carry fixed coupons.  The bank plans to use the proceeds to support its loan expansion. The final rating is subject to the receipt of final documentation conforming to information already received.