-Nations Trust Bank's proposed debt gets A-(lka) rating from Fitch.
BANKING AND CREDIT NEWS-July 11, 2011--Nations Trust Bank's proposed debt gets A-(lka) rating from Fitch(C)2011 M2 COMMUNICATIONS http://www.m2.com
11 July 2011 - Fitch set on Monday a national long-term rating of A-(lka) to the proposed subordinated debentures of up to LKR2bn (USD18.2m/EUR12.8m) of Sri Lanka-based Nations Trust Bank (COL:NTB).
The proposed debentures have a five-year maturity with principal repayment as a bullet payment, and have both fixed and floating coupons, which will be paid on a semi-annual basis.
Simultaneously, the agency upheld the lender's national long-term rating of A(lka) with a "stable" outlook, the A(lka) rating on its outstanding LKR500m senior debentures and the A-(lka) rating on its outstanding LKR1bn subordinated debentures.
TB's ratings are backed by its evolving franchise within most business segments, sound profitability and improved capital position.
Positive rating drivers include a sustained consolidation of NTB's lending and deposit franchise and of its risk management processes and controls, as well as a healthy capital structure. On the other hand, an unexpected deterioration of NTB's asset quality or earnings, although less likely on a mid-term scale, would be considered negative rating triggers.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Jul 11, 2011|
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