Fitch Ratings has withdrawn the expected National Long-Term Rating of 'A-(EXP)(lka)' assigned to Abans Finance PLC's (A-(lka)/Outlook Evolving) proposed Sri Lankan rupee-denominated senior unsecured debentures.

The rating on the proposed senior debt was initially assigned on 1 October 2021 and was downgraded to 'A-(EXP)(lka)' on 10 February 2022 following the downgrade of Abans Finance's parent, Abans PLC (AA-(lka)/Stable).

Fitch is withdrawing the expected rating as it is no longer expected to convert to a final rating in the near future. The company may resume the plan for issuance once market conditions become conducive.

Key Rating Drivers

Key rating drivers do not apply as the rating has been withdrawn.

RATING SENSITIVITIES

Rating sensitivities do not apply as the rating has been withdrawn.

Date of Relevant Committee

09 February 2022

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING

The principal sources of information used in the analysis are described in the Applicable Criteria.

Public Ratings with Credit Linkage to other ratings

Abans Finance's rating is driven by Abans' rating.

RATING ACTIONS

Entity / Debt

Rating

Prior

Abans Finance PLC

senior unsecured

Natl LT

WD(lka)

Withdrawn

A-(EXP)(lka)

Page

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VIEW ADDITIONAL RATING DETAILS

This report was prepared by Fitch in English only. The company may prepare or arrange for translated versions of this report. In the event of any inconsistency between the English version and any translated version, the former shall always prevail. Fitch is not responsible for any translated version of this report.

Additional information is available on www.fitchratings.com

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