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Fitch lowers Sri Lankan finance issuers
Fitch Ratings said it lowered its national scale ratings for Sri Lankan finance and leasing issuers after the sovereign downgrade and recalibration of its national rating scale. The ratings remain on rating watch negative.
The agency downgraded People’s Leasing & Finance plc’s issuer and senior unsecured ratings to A-(lka)/RWN from A+(lka)/RWN, HNB Finance plc to BBB+(lka)/RWN from A(lka)/RWN and its subordinated rating to BBB-(lka)/RWN from BBB+(lka)/RWN and Siyapatha Finance plc’s issuer and senior unsecured ratings to BBB+(lka)/RWN from A(lka)/RWN.
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