Fitch rates DFCC Bank notes A-

Fitch Ratings said it assigned DFCC Bank plc’s proposed Basel III-compliant subordinated unsecured debentures a final national long-term rating of A-(lka).

The notes, which will total up to LKR 7 billion and mature in five and seven years, include a non-viability clause and will qualify as regulatory tier 2 capital for the bank.

The bank plans to use the proceeds to strengthen its tier 2 capital base and support its loan expansion.

The outlook is stable.

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