Fitch Ratings Lanka has assigned
The final rating is the same as the expected rating assigned on
The proposed debentures will mature in seven years and will be listed on the
KEY RATING DRIVERS
Sampath's proposed and outstanding Sri Lankan rupee-denominated subordinated debt is rated two notches below the National Long-Term Rating anchor. This reflects Fitch's baseline notching for loss severity for this type of debt and our expectations of poor recoveries. There is no additional notching for non-performance risks.
Fitch affirmed Sampath's National Long-Term Rating on
RATING SENSITIVITIES
Factors that could, individually or collectively, lead to positive rating action/upgrade:
Sampath's subordinated debt would be upgraded if the bank's National Long-Term Rating is upgraded.
Factors that could, individually or collectively, lead to negative rating action/downgrade:
Sampath's subordinated debt would be downgraded if the bank's National Long-Term Rating is downgraded.
For Sampath's key rating drivers and rating sensitivities, see 'Fitch Affirms Sampath Bank at 'AA-(lka)'; Outlook Stable', at https://www.fitchratings.com/research/banks/fitch-affirms-sampath-bank-at-aa-lka-outlook-stable-05-08-2020
DATE OF RELEVANT COMMITTEE
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.
RATING ACTIONSENTITY/DEBT RATING PRIOR
subordinated
Natl LT A(lka) New Rating A(EXP)(lka)
VIEW ADDITIONAL RATING DETAILS
Additional information is available on www.fitchratings.com
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