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BOC downgraded to RD by Fitch

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The Bank of Ceylon’s (BOC) Long- and Short-Term Foreign Currency (FC) Issuer Default Ratings (IDRs) have been reduced by Fitch Ratings to “RD” (Restricted Default) from “CC” and “C,” respectively.

Additionally, Fitch has withdrawn the ratings from Rating Watch Negative and lowered the Viability Rating (VR) from “cc” to “f.” (RWN). The rating actions follow Fitch’s definitions for ratings.

At the same time, Fitch has kept BOC’s National Long-Term Rating at “AA-(lka)” and its Long-Term Local-Currency (LT LC) IDR at “CCC” on RWN.

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